JELD-WEN Holding, Inc. has signed a definitive agreement to acquire VPI Quality Windows, Inc. (“VPI”). VPI is a market-leading vinyl window manufacturer specializing in customized solutions for mid-rise multi-family, institutional, hospitality and commercial projects, primarily in the western United States. VPI has earned a reputation as a preferred supplier of windows for the multi-family market through a relentless focus on quality, service and superior product performance.
“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. “The acquisition of VPI extends our successful M&A track record and demonstrates our disciplined and balanced approach to capital allocation.”
JELD-WEN expects the transaction to close late in the first quarter of 2019, subject to customary closing conditions. Terms of the acquisition were not disclosed.
JELD-WEN expects VPI to add approximately 60 million USD in annualized revenue and that the acquisition will be immediately accretive to both adjusted EPS and adjusted EBITDA margins.