CHARLOTTE, N.C. - Window and door manufacturer Jeld-Wen Holding, Inc. (NYSE:JELD) acquired Milliken Millwork, Inc., a Sterling Heights, Michigan provider of doors and related value-added services in the Midwest region of the United States.
The announcement came in an August 25 SEC filing, and was followed in rapid succession by an August 31 acquisitions Kolder Group, and Australian maker of shower enclosures and closets; and an October 11 acquisition of Domoferm, an Austrian firm manufacturing steel doors, with 1,000 employees at four manufacturing sites in Austria, Germany, and the Czech Republic. In an SEC filing, Jeld-Wen reported that deals for Kolder, MMI and a June buyout of a Finnish door manufacturer, Mattiovi Oy, cost $123.7 million. Jeld-Wen began trading on the New York Stock Exchange on January 27, following an inital public offering by Onex Holdings.
Founded in 1953 and doing business as MMI Door, Milliken Millwork supplies distributors, dealers, and home centers with a broad product range of interior, exterior, and patio doors, and complete door systems and customized products. Milliken Millwork is expected to add $90 million in revenue to Jeld-Wen, which last year reported $3.7 billion in revenue. The three most recent acquisitions bring the number of buyouts by Jeld-Wen to ten since 2015.
MMI Door has operations in Michigan, Pennsylvania and Ohio.
“MMI Door is an innovator and leader in providing comprehensive door systems and value-added services. The acquisition of MMI Door aligns perfectly with our strategy and supports our commitment to being the best door solutions provider in the market,” said Mark Beck, Jeld-Wen president and CEO.
“MMI Door’s capabilities in customizable configurations, specialized component offerings, and multiple finishing options complement our North America door business and allow us to improve service offerings and lead times to our channel partners.”
JELD-WEN has been a supplier of door products to MMI Door, a privately held, third-generation family business.
Have something to say? Share your thoughts with us in the comments below.