Janus International Group, a leading provider of building product solutions, announced its asset acquisition of Kiwi II Construction.
The acquisition allows Janus to expand its suite of products and services for the self-storage industry.
The deal reflects Janus's commitment to offering comprehensive self-storage building solutions throughout North America. Janus aims to leverage this acquisition to enhance its competitive position and drive growth by tapping into Kiwi II Construction's expertise and customer base.
Acquisition Details
Janus paid approximately $97.2 million in cash for the asset acquisition of Kiwi II Construction, demonstrating a 5x transaction multiple of adjusted EBITDA. This pricing indicates confidence in the future cash flows and synergies expected from this acquisition.
Product Enhancement
The acquisition will enhance Janus's services for self-storage owner-operators and general contractors, enabling a more robust product offering. The expanded product range can lead to increased customer retention and attract new clients seeking comprehensive solutions in the self-storage sector.
Leadership Continuity
Following the acquisition, the existing CEO and COO of Kiwi II will continue to lead the business, ensuring operational continuity and expertise. This transition strategy aims to maintain the successful operations of Kiwi II while integrating its capabilities into Janus's business model smoothly.
- The acquisition of Kiwi II positions Janus International Group to serve its customers with high-quality products and services in the self-storage industry. By combining resources, knowledge, and networks, Janus can optimize operations and drive innovation to stay competitive in a rapidly evolving market.
- The addition of Kiwi II's expertise and customer service reputation strengthens Janus's position in the market, facilitating growth opportunities. Janus can leverage Kiwi II's established relationships and brand reputation to expand its market share and explore new avenues for revenue generation and business development.
The acquisition of Kiwi II Construction marks a strategic move for Janus International Group, reinforcing its commitment to providing comprehensive building solutions in the self-storage sector. The synergy between the two companies is expected to drive innovation and expansion in North America, creating a competitive edge for Janus in the self-storage industry.