Jeld-Wen acquires VPI Quality Windows
Jeld-Wen reported that it is acquiring VPI Quality Windows, Inc. a manufacturer of vinyl windows.
VPI specializes in customized solutions for mid-rise multi-family, institutional, hospitality and commercial projects, primarily in the western U.S.
The deal is expected to close in the first quarter of 2019 and add about $60 million in annual revenue, Jeld-Wen said. Terms of the deal were not disclosed.
“VPI will provide Jeld-Wen with a foundation for growth in the multi-family window market, providing us with a premier product and brand in the segment. We believe that VPI’s capabilities and service model, combined with JELD-WEN’s national distribution footprint, will provide significant growth potential,” said Gary Michel, president and chief executive officer.
Last month, Jeld-Wen reported net revenues of $1.09 billion for the fourth quarter 2018 – nearly a 12% increase from net revenues of $975.8 million in the fourth quarter 2017. Jeld-Wen swung to a profit for the quarter, posting a net income of $39.7 million, compared to a net loss of $93.7 million in the same quarter last year.
VPI specializes in customized solutions for mid-rise multi-family, institutional, hospitality and commercial projects, primarily in the western U.S.
The deal is expected to close in the first quarter of 2019 and add about $60 million in annual revenue, Jeld-Wen said. Terms of the deal were not disclosed.
“VPI will provide Jeld-Wen with a foundation for growth in the multi-family window market, providing us with a premier product and brand in the segment. We believe that VPI’s capabilities and service model, combined with JELD-WEN’s national distribution footprint, will provide significant growth potential,” said Gary Michel, president and chief executive officer.
Last month, Jeld-Wen reported net revenues of $1.09 billion for the fourth quarter 2018 – nearly a 12% increase from net revenues of $975.8 million in the fourth quarter 2017. Jeld-Wen swung to a profit for the quarter, posting a net income of $39.7 million, compared to a net loss of $93.7 million in the same quarter last year.