Jeld-Wen Holding Inc., one of the world's largest manufacturers of doors and windows, filed for an initial public offering with the U.S. Securities and Exchange Commission.
The Charlotte, N.C.-based company designs and manufactures a wide range of interior and exterior products made from vinyl as well as wood and aluminum for the new construction and repair and remodeling markets.
Jeld-Wen could raise as much as $500 million, according to analyst estimates. The company plans to give its management broad discretion with the net proceeds for general corporate purposes.
The Wall Street Journal reported in August 2015 that Jeld-Wen was working on an IPO that could value the company as high as $4 billion.
In the 12-month period that ended March 26, Jeld-Wen posted a profit of $98 million on sales of $3.4 billion, the SEC filing says. Adjusted earnings before interest, taxes and depreciation increased by $173.9 million from the year ended Dec. 31, 2013, the filing also says.
For 2105, Jeld-Wen's profit was $90.9 million compared to losses of $84.1 million in 2014 and $68.4 million in 2013.
The company, which is controlled by Onex Corp., a Canadian private equity firm, made four acquisitions in 2015 and one in 2016, including LaCantina Doors, Karona and Aneeta Windiow Systems. The acquisitions generated $225 million of net sales for 2015, the filing says.
Jeld-Wen's announced the IPO on June 1 and did not say how many shares would be offered or at what price or on which exchange its common stock would be listed. The joint book-running managers are Barclays, Citigroup, Credit Suisse and JP Morgan.