Jeld-Wen to acquire Domoferm
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.
New outlet for Tando cladding
Great Southern Wood Preserving Inc. will distribute the full line of TandoShake and TandoStone exterior cladding product throughout Georgia and South Carolina from its facilities in Conyers, Ga., and Jesup, Ga. The Conyers facility will also cover eastern Tennessee, while Jesup will cover Jacksonville, Fla., up through the South Carolina coast.
The distribution deal was announced by Quebec City, Quebec-based Derby Building Products, parent company of Tando Building Products.
Great Southern will offer the full line of shake, stone and accessory products under the Tando brand.
“Great Southern Wood Preserving is well-known for their distribution and service expertise for branded building products. Plus, their approach to distribution is a great fit for our strategy,” said Ralph Bruno, president of Derby Building Products. “They recognize the benefits of the Tando product line for their vast dealer network and we are thrilled that they continue to help us bring the new category of shake and stone into new regions.”
Great Southern CEO Jimmy Ranen added: "We are very pleased to bring Derby Building Products' Tando product lines to our dealers in Georgia, northeastern Florida, the Carolinas and parts of Tennessee. It is exciting to see this unique cladding solution begin to get a foothold in the Southeast region."