Onex Corp. announced Onex Partners III and certain co-investors, including Onex, have completed the sale of their remaining approximately 14.9 million shares of Jeld-Wen Holding Inc. common stock at a net price of $28.50 per share. Jeld-Wen chose to purchase $200 million, approximately half of the shares, Onex sold. With this sale, the Onex Group no longer holds any shares of Jeld-Wen.
Onex has held an ownership position in Jeld-Wen since 2011. "We are appreciative of Onex's support of Jeld-Wen over the past ten years and believe we are well-positioned to continue to create value for our shareholders," said Jeld-Wen in a statement.
"We are extremely proud of the progress our company has made and we’re excited about our future prospects," the statement continued. "We are well-positioned to continue to grow and capitalize on a strong operating environment. These transactions represent the natural evolution of Jeld-Wen’s ownership journey, as our phase of private equity ownership is now complete, with nearly 100 percent float held by public investors. We have significantly strengthened our company, putting ourselves in a strong capital position, poised for future growth."
Gross proceeds to the Onex Group from this transaction are approximately $425 million, of which Onex’ share was approximately $110 million as a Limited Partner in the Fund and as a co-investor.
On March 1, 2021, a registration statement including a prospectus (File No. 333- 253702) was filed with the U.S. Securities and Exchange Commission relating to these securities, which registration statement became effective upon such filing with the Securities and Exchange Commission. Copies of these documents are available by visiting the SEC’s EDGAR service on the SEC website at www.sec.gov. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
