Business

Jeld-Wen acquires Australian door maker as it readies for IPO

Charlotte-based door and window maker Jeld-Wen this week said it will acquire Australian manufacturer Aneeta Window Systems.

The manufacturer’s latest acquisition news comes weeks after the Wall Street Journal reported that the company is also getting ready to go public. Citing people familiar with the matter, the Journal said the initial public offering could value the company at $4 billion.

Jeld-Wen is working with banks including Barclays and Credit Suisse on the deal, the Journal reported, which could raise around $600 million.

Terms of the manufacturer’s purchase of Melbourne-based Aneeta were not disclosed. Aneeta, which makes a design of windows without sash frames surrounding the glass, expands Jeld-Wen’s Australian brand offerings, which also include Stegbar, Corinthian and Regency.

“The acquisition of Aneeta is a strong, strategic fit for us,” said Kirk Hachigian, Jeld-Wen’s chairman and chief executive officer.

Last month, the Charlotte company also said it would acquire a Norwegian wooden door maker called Dooria AS.

Jeld-Wen has been owned by a Canadian private equity firm called Onex Corp. since 2011, the Journal reported. Jeld-Wen said it was moving its North American headquarters to Charlotte from Oregon in 2012 thanks to a Job Development Investment Grant (JDIG) from the state, reported WBTV, the Observer’s news partner.

Katherine Peralta: 704-358-5079, @katieperalta

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