This week, JELD-WEN (NASDAQ: JELD) announced it had entered into an agreement to acquire the Kolder Group, which is a leading Australian provider of shower enclosures, closet systems, and other building products. Kolder was initially established in 1992 and it provides supply and installation services to builders and developers in the major metro areas of eastern Australia. Kolder has managed to establish itself in leading positions in commercial and residential markets thanks to a strong portfolio and a track record of exceptional service and quality.
Kolder was held privately before the acquisition. Additional terms were not released. President and chief executive officer of JELD-WEN, Mark Beck, made a statement about the acquisition.
“The Kolder acquisition significantly enhances our existing Australia capabilities in the glass shower enclosures and built-in closet systems, and supports our strategy to build leadership positions in attractive markets.”
Thanks to the acquisition, JELD-WEN believes it will add roughly AU $30 in annualized revenue. The acquisition is expected to be immediately accretive to the company’s adjusted EBITDA margins, accretive to adjusted EPS in 2018, but neutral to adjusted EPS in 2017. Kolder will be JELD-WEN’s ninth acquisition in the past two years. It is the fourth in the Australasia segment during that same period of time.