CHARLOTTE, N.C.--(BUSINESS WIRE)--JELD-WEN Holding, Inc. (NYSE:JELD) announced the acquisition of Milliken Millwork, Inc., a leading provider of doors and related value-added services in the Midwest region of the United States. Founded in 1953, MMI Door excels in supporting distributors, dealers, and home centers with a broad product range of interior, exterior, and patio doors and strong capabilities in complete door systems and customized products.
“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, president and chief executive officer. “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. We welcome the entire MMI Door team to the JELD-WEN family.”
JELD-WEN has a long and valued history as a supplier of door products to MMI Door. MMI Door was privately held by third-generation family members of the founder. Terms of the acquisition were not disclosed.
Based on MMI Door’s results for the twelve months ended July 31, 2017, the acquisition adds incremental net revenues to JELD-WEN of approximately $90 million. JELD-WEN expects the acquisition to be immediately accretive to adjusted EBITDA margins, neutral to adjusted EPS in 2017, and accretive to adjusted EPS in 2018. MMI Door is JELD-WEN’s eighth acquisition in the last two years, and the third in North America during that period.
About JELD-WEN
JELD-WEN (NYSE listed), founded in 1960, is one of the world’s largest door and window manufacturers, operating 120 manufacturing facilities in 19 countries located primarily in North America, Europe and Australia. Headquartered in Charlotte, North Carolina, JELD-WEN designs, produces and distributes an extensive range of interior and exterior doors, wood, vinyl and aluminum windows and related products for use in the new construction and repair and remodeling of residential homes and non-residential buildings. JELD-WEN is a recognized leader in manufacturing energy-efficient products and has been an ENERGY STAR® Partner since 1998. Our products are marketed globally under the JELD-WEN® brand, along with several market-leading regional brands such as Swedoor® and DANA® in Europe and Corinthian®, Stegbar®, and Trend® in Australia. For more information visit www.jeld-wen.com.
