Jeld-Wen Acquires Aneeta Window SystemsSeptember 1st, 2015 by Editor
Jeld-Wen has acquired Aneeta Window Systems, a manufacturer and supplier of sashless windows in Australia. Terms of the acquisition were not disclosed.
Aneeta Windows specializes in the manufacture of sashless windows, which feature two moving panes of counterbalanced glass without a timber or aluminum sash frame surrounding the glass. Aneeta currently operates in Melbourne, Sydney, Brisbane, Perth and Adelaide. The company, which was founded in 1994, has licensing agreements in the U.S., New Zealand and the Philippines. Aneeta also exports to Singapore and Mexico, and it’s exploring other opportunities for international growth, according to a release.
The addition of Aneeta expands Jeld-Wen’s family of brands in Australia, which also includes Stegbar, Corinthian, Regency, Airlite, William Russell Doors and Jeld-Wen Glass.
“The acquisition of Aneeta is a strong, strategic fit for us,” said Kirk Hachigian, Jeld-Wen chairman and chief executive officer, in a statement. “As an industry leader, our goal is to offer the most innovative window and door products not only to our customers in the Australian market, but throughout the globe. We welcome Aneeta as part of Jeld-Wen, and are pleased to add their products to Jeld-Wen’s portfolio of offerings.”
The acquisition of Aneeta follows the company’s recent announcement in early August that it had acquired Dooria, a major door manufacturer for the Scandinavian markets. Additionally, a Wall Street Journal article in early August suggested that Jeld-Wen is considering an initial public offering (IPO) that could value the company at $4 billion or higher.