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Charlotte ‘Dream Home’ door maker said to be considering selling itself

Charlotte-based door maker Jeld-Wen is said to be considering selling itself months after filing to go public.
Charlotte-based door maker Jeld-Wen is said to be considering selling itself months after filing to go public. AP

Jeld-Wen, the Charlotte-based maker of doors and windows, is also considering selling itself months after filing to go public.

Citing sources familiar with the matter, the Wall Street Journal reports the manufacturer is exploring the possibility of a sale at the same time of an initial public offering, a process known as a “dual-track.” The company could reap up to $3 billion in a sale, the Journal reports.

Jeld-Wen’s IPO would come at a time at a slow time for initial public offerings in the U.S. According to management firm Renaissance Capital, there have been 56 IPOs so far this year, 60 percent fewer than at this time last year. The last Charlotte-based company to go public was the fast-food chain Bojangles’.

Headquartered in uptown Charlotte, Jeld-Wen makes windows and doors for HGTV’s remodelling TV show “Dream Home.” The company supplies products sold by retailers such as Home Depot, according to its website.

The manufacturer filed to go public in June, a move that had been expected. Earlier this spring, Bloomberg News, citing people familiar with the matter, said the IPO could raise about $500 million, valuing the company at about $5 billion including debt.

Partly owned by Canadian private equity firm Onex, Jeld-Wen said it was moving its North American headquarters to Charlotte from Oregon in 2012 thanks to a Job Development Investment Grant from North Carolina.

There’s no guarantee the company will reach a deal, the Journal notes, and a sale could attract private equity bidders.

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