Business

Charlotte-based manufacturer expanding again in Europe

Charlotte-based window and door maker JELD-WEN Holding has acquired a Finnish manufacturer of interior doors and door frames.

JELD-WEN did not disclose what it paid for Mattiovi Oy, which is privately held.

“The acquisition of Mattiovi strengthens our market position in the Nordic region and enhances our unique pan-European strategy,” said Mark Beck, president and CEO of JELD-WEN, in a press release.

The company has actively expanded its global footprint in the last two years. Mattiovi is JELD-WEN’s seventh acquisition and the second in Europe during the period. Europe is one of the company’s largest markets, generating a revenue of $242.3 million in the first quarter, more than a quarter of its total revenue, according to the company’s financial statement released on May 9.

Previously headquartered in Oregon before moving to Charlotte in 2015, the company announced last year it plans to build a new corporate office, a 120,000 square-foot building at One Silver Crescent, in the Ayrsley area of southwest Charlotte. Construction is expected to finish by the end of 2017. The company also plans to add about 200 jobs in the area.

The Charlotte-based company is one of the world’s largest door and window manufacturers. It operates 115 manufacturing facilities in 19 countries.

In January, JELD-WEN went public and priced its initial public offering at $23 per share for a total of $575 million.

The company expects the acquisition will be accretive to its earnings this year. Previously, it estimated 2017 EBITDA would range from $440 million to $460 million.

Shares of JELD-WEN traded at $32.65 Friday morning, up 17 cents.

Wei Zhou: 704-358-5240

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