Jeld-Wen Holding, Inc. has signed a definitive agreement to acquire VPI Quality Windows, Inc. (“VPI”). Jeld-Wen expects the transaction to close late in the 1Q 2019, subject to customary closing conditions, as the company says in the press release received by Lesprom Network.
“VPI will provide Jeld-Wen with a foundation for growth in the multi-family window market, providing us with a premier product and brand in the segment. We believe that VPI’s capabilities and service model, combined with Jeld-Wen’s national distribution footprint, will provide significant growth potential,” said Gary Michel, president and CEO. “The acquisition of VPI extends our successful M&A track record and demonstrates our disciplined and balanced approach to capital allocation.”
Jeld-Wen expects VPI to add approximately $60 million in annualized revenue and that the acquisition will be immediately accretive to both adjusted EPS and adjusted EBITDA margins.
VPI is a market-leading vinyl window manufacturer specializing in customized solutions for mid-rise multi-family, institutional, hospitality and commercial projects, primarily in the western United States.
Jeld-Wen, founded in 1960, is one of the world’s largest door and window manufacturers, operating manufacturing facilities in 20 countries located primarily in North America, Europe and Australia.
