Onex Corp. and its affiliates recently announced the completion of their investment in Jeld-Wen Holding Inc., one of the world’s largest residential door and window manufacturers.
The total investment of $871 million includes $689 million from Onex Partners III, of which Onex’ share was $124 million as a limited partner in the Fund, and Onex’ $182 million investment as a co-investor in the transaction.
Onex intends to offer a portion of this co-investment to its third-party limited partners. With the completion of the Jeld-Wen investment, Onex Partners III is approximately 40% invested.
The Onex Group’s total investment of $871 million includes: (i) $700 million of convertible preferred stock to acquire a 58% ownership stake; and (ii) a $171 million convertible note that can be redeemed within 18 months with proceeds from the sale of certain non-core assets and, if not redeemed, will convert into additional shares of convertible preferred stock. In connection with the acquisition, Jeld-Wen completed a $460 million bond offering, the proceeds of which in combination with the Onex Group’s investment were used to refinance the company’s existing debt.
The balance of the company continues to be owned by the trust of the late founder Richard Wendt, members of the Wendt family, Jeld-Wen employees and other existing shareholders. BD+C
Related Stories
| Jul 31, 2012
Thornton Tomasetti announces four promotions in Chicago office
Promotions in Thornton Tomasetti office key on industy veterans.
| Jul 25, 2012
EwingCole adds healthcare director to D.C. office
Schultz brings over 25 years of proven experience in planning and designing healthcare, medical research, and government medical facilities.
| Jul 25, 2012
Contract awarded for Gaillard Municipal Auditorium renovations in Charleston, S.C.
Seeking LEED Silver certification, the project will begin in August and is slated for completion in December 2014.
| Jul 24, 2012
Boyer joins Thornton Tomasetti as vice president in New York office
Boyer will support Thornton Tomasetti’s Building Performance and Property Loss Consulting practices in the East U.S. region as well as nationally.
| Jul 24, 2012
Dragon Valley Retail at epicenter of Yongsan International Business District
Masterplanned by architect Daniel Libeskind, the Yongsan IBD encompasses ten city blocks and includes a collection of high-rise residences and commercial buildings.
| Jul 23, 2012
Venturi Scott Brown and Associates Becomes VSBA, LLC
After over fifty years as one of the world’s most renowned architects, Bob Venturi has retired from practice, while Denise Scott Brown continues to publish and present her work.
| Jul 23, 2012
Giants 300 Firm Index 2012
An alphabetical index of the Giants 300 AEC firms and their ranking in specific categories.
| Jul 23, 2012
Haynes Whaley announces leadership transition
Pronier has worked in the construction industry for the past 30 years.
| Jul 23, 2012
Missner Group completes construction of Chicago auto dealership
The Missner Group also incorporated numerous sustainable improvements to the property including the implementation of a vegetative roof, and the utilization of permeable pavers for the parking lot.
| Jul 20, 2012
2012 Giants 300 Special Report
Ranking the leading firms in Architecture, Engineering, and Construction.