Onex Group closed its deal with Jeld-Wen, a residential door and window manufacturer, with a total investment of $871 million, the company said in a statement. The final deal gives Onex a 58% ownership stake in Jeld-Wen with the remainder of the company owned by the Wendt family.
The deal was contingent on Jeld-Wen’s recent $460 million bond sale. Proceeds from the bond offering and the Onex investment were used to restructure the company’s debt.
Jeld-Wen will remain privately owned and headquartered in Klamath Falls, OR. Philip Orsino, Onex’s building products industrial partner who was named Jeld-Wen president in Aug., will run day-to-day operations.
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