JELD-WEN to buy Mattiovi Oy from Taaleri

Helsinki, FINLAND


Helsinki, 2017-06-30 08:42 CEST (GLOBE NEWSWIRE) --  

TAALERI PLC                                 STOCK EXCHANGE RELEASE   30 JUNE 2017

JELD-WEN to buy Mattiovi Oy from Taaleri

JELD-WEN Holding, Inc. (NYSE: JELD) and Taaleri (HEL: TAALA) have concluded an agreement on an ownership arrangement, wherein the whole share capital of Mattiovi Oy was transferred to JELD-WEN Suomi Oy. Mattiovi Oy was Taaleri’s co-investment case and it was owned by Taaleri’s customers via Taaleri Door Fund (60%), Taaleri Investments (20%) and the management of Mattiovi Oy (20%).

As a result of the deal, Taaleri Plc will record a profit of approximately three million euros in June, which is composed of the performance fee of Taaleri Private Equity Funds Ltd, the capital gain from Taaleri Investments Ltd’s ownership and the transaction fee of Taaleri Capital Ltd. The profit generated by the deal strengthens Taaleri Plc’s updated earnings guidance regarding the result of the first half-year period published on 20 June 2017.

Taaleri purchased Mattiovi Oy from Panostaja in October 2013 and acquired the interior door business of Fenestra in an asset deal in December 2013. This combination formed the leading interior door company in Finland with factories in Alavus, Laitila and Posio.

“Under the management of Managing Director Tapani Harjunen, Mattiovi Oy has become the most profitable company in its industry during our ownership period of 3.5 years. I wish to thank Tapani and the personnel of the company for all their hard work. Mattiovi Oy was a successful investment for us. We will reach the return target of our customers and the example shows the strength of our co-investment concept,” says Tero Luoma, who is the Chairman of the Board of Mattiovi Oy and Taaleri Private Equity Funds Ltd’s Investment Director.

Taaleri Plc
Communications

Additional information:

Tero Luoma, Investment Director, Taaleri Private Equity Funds Ltd, tel. +358 50 344 9993, tero.luoma@taaleri.com

JELD-WEN in brief

JELD-WEN (NYSE listed), founded in 1960, is one of the world’s largest door and window manufacturers, operating 115 manufacturing facilities in 19 countries located primarily in North America, Europe and Australia. Headquartered in Charlotte (North Carolina, USA), JELD-WEN designs, produces and distributes an extensive range of interior and exterior doors, wood, vinyl and aluminum windows and related products for use in the new construction and repair and remodeling of residential homes and non-residential buildings.  Products are marketed globally under the JELD-WEN® brand, along with several market-leading regional brands such as Swedoor® and DANA® in Europe and Corinthian®, Stegbar®, and Trend® in Australia.. JELD-WEN Suomi Oy’s headquarters and logistics centre are located in Vääksy. The door factories operate in Vääksy and Kuopio and the sales offices are situated in Vääksy, Kuopio, Tampere and Helsinki.

 

Taaleri in brief

Taaleri is a Finnish financial service company, whose parent company Taaleri Plc is listed on Nasdaq Helsinki's main market. The Taaleri Group comprises three business areas: Wealth Management, Financing, and Energy. Taaleri provides services to institutional investors, companies and private individuals. The Group’s operational subsidiaries are: Taaleri Wealth Management Ltd and its subsidiaries, Taaleri Private Equity Funds Group, Taaleri Investments Group, Taaleri Energia Oy and Garantia Insurance Company Ltd. In addition, Taaleri has associated companies Fellow Finance Plc, which offers peer-to-peer lending services, and Inderes Oy, which produces analyses and media content for investors. At the end of December 2016, Taaleri had assets under management totalling EUR 4.8 billion and 3,900 wealth management customers. Taaleri Plc has some 2,800 shareholders. Taaleri's operations are supervised by the Finnish Financial Supervisory Authority.

More information about our company and services: 

www.taaleri.com/en
www.fellowfinance.fi/en
www.garantia.fi/en

         Taneli Hassinen, Head of Communications, tel. +358 40 504 3321, taneli.hassinen@taaleri.com