Janus International Announces Closing of Acquisition of Building Components Manufacturer DBCI
Janus International Group (NYSE: JBI) has completed its acquisition of DBCI, a manufacturer of steel roll-up doors under Cornerstone Building Brands (NYSE: CNR). This acquisition aims to enhance Janus's product offerings and customer service capacity. Janus expects to benefit from DBCI's contractor and distributor relationships, facilitating growth in its Nokē® Smart Entry technology. CEO Ramey Jackson highlighted anticipated synergies that will lead to cost savings and an improved service platform for clients.
- Acquisition strengthens product offering and market position.
- Access to DBCI's customer base is expected to enhance revenue growth.
- Synergies anticipated to drive cost savings.
- None.
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 and other commercial and industrial sectors, today announced it has closed the previously announced acquisition of 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”).
Through this acquisition, Janus expects that it and DBCI -- which will continue to operate under its own name as a subsidiary of Janus -- will both benefit from a strengthened product offering and an ability to serve its customers in an even greater capacity. Through direct access to DBCI’s core general contractor and distributor base Janus will grow its customer set and work to accelerate the growth of its Nokē® Smart Entry wireless management technology. In turn, DBCI’s customers will derive benefit from the broader platform of comprehensive, value-added solutions provided by Janus.
Commented Ramey Jackson, CEO of Janus: “We are very pleased to have successfully closed our acquisition of DBCI. As we integrate our two organizations, we anticipate that the multiple synergies we share will drive enhanced cost savings and a stronger platform to better service and supply our combined set of customers.”
The completion of this acquisition follows the satisfaction of all conditions.
ABOUT JANUS INTERNATIONAL GROUP
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.
ABOUT DBCI
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.
FORWARD LOOKING STATEMENTS
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 benefits of the transaction may not materialize to the extent anticipated and (vi) 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 Quarterly Report on Form 10-Q filed with the SEC on August 10, 2021 and in Janus’s other filings.
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