USA - Jeld-Wen Holding, Inc., a leading global manufacturer of building products, recently announced that it has completed the previously announced sale of its Australasia business to Platinum Equity, a global investment firm.
"The closing of this transaction represents a significant milestone in our strategy to simplify and streamline the company while maximizing shareholder value," said Jeld-Wen Chief Executive Officer William J. Christensen. "The sale of the Australasia business enables us to focus on our two largest and core regions, North America and Europe, and to strengthen our balance sheet."
The transaction generated net proceeds of approximately USD 446 million for Jeld-Wen and the company plans to use the funds to repay debt. Excluding the Australasia business, JELD-WEN's 2022 net revenue was USD 4.5 billion, and the North America and Europe segments contributed 72% and 28% respectively.
