AP NEWS

Jeld-Wen may alter IPO plans, reports say

August 13, 2016 GMT

Jeld-Wen Holdings Inc. is looking into an outright sale in addition to going public, the Journal writes. The sale could bring up to $3 billion for the company.

(The company — once headquartered in Klamath Falls — employs about 3,000 Oregon workers, one-third of those in Klamath County).

Bloomberg News had reported that a Jeld-Wen IPO could raise up to $500 million, valuing the company at $5 billion.

Now Jeld-Wen is taking a “dual-track” strategy, combining the possibility for both a sale and IPO.

The possibility that Jeld-Wen and another company, building-materials seller Forterra Inc., could abandon plans for IPO would be a hit to the already beleaguered market, the Journal writes. Other companies that were considering going public this year have instead been sold.

Canadian private-equity firm Onex Corp. invested $871 million in Jeld-Wen in 2011.

Jeld-Wen executives quietly moved into the Ally building in uptown Charlotte in 2012. The headquarters was relocated from Klamath Falls, Ore.

Jeld-Wen has about 20,000 employees. It sells windows and doors and posted $90.9 million in profit last year, reversing several years of losses.

Ken Elkins covers manufacturing, international business and economic development for the Charlotte Business Journal.