Canadian-based Onex Corp. has agreed to purchase 39% of Jeld-Wen, Oregon’s largest private company, for $675 million.
Canadian-based Onex Corp. has agreed to purchase 39% of Jeld-Wen, Oregon’s largest private company, for $675 million.
Onex Corp. will buy into Jeld-Wen, the world’s largest maker of residential windows and doors, which is based in Klamath Falls. Jeld-Wen will keep its existing management and give Onex, a Toronto-based private-equity investment firm, two seats on its board.
The collapse of the housing market badly wounded Jeld-Wen, whose annual sales dropped 26 percent between 2007 and 2009 to $2.5 billion, according to Hoover’s. Jeld-Wen’s sales reached $3 billion last year, said an Onex press release issued Thursday announcing the deal. Jeld-Wen employs about 2,500 in Oregon.
Read more at OregonLive.com.
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