Jeld-Wen said it agreed to acquire the Domoferm Group of companies from holding company Domoferm International GmbH. Based in Austria, Domoferm is a leading European provider of steel doors, steel door frames, and fire doors for commercial and residential markets. It has more than 1,000 employees at four manufacturing sites in Austria, Germany, and the Czech Republic.
Domoferm is Jeld-Wen's tenth acquisition since 2015, and the third in the Europe segment during that period.
“Domoferm’s capabilities in steel frames and doors significantly expand our European product range, including certified door systems,” said Mark Beck, president and CEO. “We expect to deliver cost synergies through implementation of our JEM productivity initiatives.”
Jeld-Wen expects the transaction to close in mid to late first quarter of 2018, subject to customary closing conditions. Terms of the acquisition were not disclosed.
Domoferm International GmbH was privately held by Austro Holding GmbH and Grosso Holding GmbH. Jeld-Wen expects the acquisition to add approximately €110 million in annualized revenue – that’s $130.5 million.