Platinum Equity announced this week that it has signed a definitive agreement to acquire the Jeld-Wen Australasia windows, doors and related building products business from Jeld-Wen Holding Inc. The transaction is valued at approximately $461 million and is expected to close in the third quarter of 2023, subject to certain closing conditions and regulatory approvals.

“We are proud to have crafted a divestiture solution that delivers speed and certainty to Jeld-Wen at a time when the M&A market remains challenging,” said Platinum Equity co-president Louis Samson. “We are excited about the prospects for the Australasia business. Platinum has decades of experience with corporate carve outs, helping establish standalone companies that can maximize their potential.”

Jeld-Wen’s Australasia business employs approximately 5,000 people and comprises 41 manufacturing locations across Australia, Malaysia and Indonesia. Its notable brands include Corinthian, Stegbar, A&L, Trend and Breezway, among others.

“Jeld-Wen has built an impressive business in Australasia, with well-recognized brands and a long legacy of manufacturing high-quality products,” said Platinum Equity managing director Adam Cooper. “The business is resilient, has performed well through numerous cycles, and is well-positioned for long-term success.”

Platinum Equity’s current portfolio includes Winc, an office products provider formed through a combination of Staples and OfficeMax assets, acquired by the company in Australia and New Zealand. Platinum Equity previously owned Sensis, an Australian directories business the firm acquired from Telstra.

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