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TEMPLE, Ga., July 27, 2021--(BUSINESS WIRE)--Janus International Group, Inc. (NYSE: JBI) ("Janus"), a global manufacturer and supplier of turn-key building solutions and new access control technologies for the self-storage industry, today announced that it has signed a definitive agreement to acquire DBCI, a manufacturer of steel roll-up doors and building products for both the commercial and self-storage industries and a part of Cornerstone Building Brands (NYSE: CNR) ("Cornerstone"). The acquisition broadens Janus’s customer set by gaining direct access to DBCI’s core general contractor and distributor base and provides an opportunity to deliver more comprehensive, value-added solutions for DBCI’s customers from Janus. Together, Janus and DBCI will benefit from an expanded geographic and regional sales footprint.
"This synergistic combination advances Janus’s strategy of focusing on a niche value proposition and enhances our ability to better serve the needs of our customers by broadening our platform’s range of solutions," said Ramey Jackson, CEO of Janus. "Given our complementary business lines, the acquisition presents appealing cost savings and scale/procurement benefits, along with the ability to integrate operations, cross-sell existing products and services, and expand our pool of talent and personnel."
Headquartered in Douglasville, GA, DBCI’s product line includes steel sheet roll-up doors and steel durable sheets. In total, DBCI employs approximately 240 people and as of April 3, 2021 generated trailing 12-month revenue of approximately $85 million. DBCI’s manufacturing operations are located in Arizona, Georgia, and Texas.
"DBCI has been on our radar since Clearlake acquired Janus three years ago, and we’re pleased to have helped bring these businesses together," said José E. Feliciano, Chairman of the Janus Board of Directors and Co-Founder and Managing Partner at Clearlake Capital Group, L.P. "With DBCI, Janus will look to accelerate the growth of its Nokē® Smart Entry wireless management technology as it accesses a greater breadth of customers. We also expect Clearlake’s O.P.S.® (Operations, People, and Strategy) framework to help Janus integrate DBCI in order to better serve our industry customers."
The transaction is scheduled to close during the third quarter subject to certain customary closing conditions.
ABOUT JANUS INTERNATIONAL
Janus International Group, Inc. (www.JanusIntl.com) is a global manufacturer and supplier of turn-key self-storage, commercial and industrial building solutions, including: roll-up and swing doors, hallway systems, re-locatable storage units and facility and door automation technologies. The Janus team operates out of several U.S. locations and six locations internationally.
ABOUT CORNERSTONE BUILDING BRANDS
Cornerstone is the largest manufacturer of exterior building products for residential and low-rise non-residential buildings in North America. Headquartered in Cary, N.C., Cornerstone serves residential and commercial customers across the new construction and repair and remodel markets. Cornerstone’s market-leading portfolio of products spans vinyl windows, vinyl siding, stone veneer, insulated metal panels, metal roofing, metal wall systems, and metal accessories. Cornerstone’s broad, multichannel distribution platform and expansive national footprint includes more than 20,000 employees at manufacturing, distribution and office locations throughout North America. Corporate stewardship and environmental, social and governance (ESG) responsibility are deeply embedded in Cornerstone’s culture. For more information, visit www.cornerstonebuildingbrands.com.
DBCI is a leading manufacturer of steel sheet roll-up doors and building products for both the commercial and self-storage markets. With field technicians and manufacturing and sales offices located across the United States, DBCI quickly and efficiently delivers superior products and services to its customers.
Certain statements in this communication may be considered "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this communication are forward-looking statements, including, but not limited to statements regarding the anticipated synergies and other benefits of the transaction. When used in this communication, words such as "may," "should," "could," "would," "expect," "plan," "anticipate," "believe," "estimate," "continue," or the negative of such terms or other similar expressions, as they relate to the management team, identify forward-looking statements. Such forward-looking statements are based on the current beliefs of Janus’s management, based on currently available information, as to the outcome and timing of future events, and involve factors, risks, and uncertainties that may cause actual results in future periods to differ materially from such statements.
In addition to factors previously disclosed in Janus’s reports filed with the SEC and those identified elsewhere in this communication, the following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: (i) risks of the self-storage industry; (ii) the highly competitive nature of the self-storage industry and Janus’s ability to compete therein; (iii) litigation, complaints, and/or adverse publicity; (iv) cyber incidents or directed attacks that could result in information theft, data corruption, operational disruption and/or financial loss; (v) the risk that the transaction will not close, (vi) the risk that the benefits of the transaction may not materialize to the extent anticipated and (vii) the risk that the demand outlook for Janus’s products may not be as strong as anticipated.
There can be no assurance that the events, results or trends identified in these forward-looking statements will occur or be achieved. Forward-looking statements speak only as of the date they are made, and Janus is not under any obligation and expressly disclaims any obligation, to update, alter or otherwise revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law. This communication is not intended to be all-inclusive or to contain all the information that a person may desire in considering an investment in Janus and is not intended to form the basis of an investment decision in Janus. All subsequent written and oral forward-looking statements concerning Janus or other matters and attributable to Janus or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements above and under the heading "Risk Factors" in Janus’s final prospectus filed with the SEC on May 7, 2021 and in Janus’s other filings.
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Rodny Nacier/Dan Scott
Marketing Content Manager, Janus International
Margot Olcay, ICR