Clearlake Capital Group announced today that its indirect parent company, Janus Midco has entered into a definitive agreement for Janus International to merge with Juniper Industrial Holdings.
The deal gives the combined company a pro forma implied enterprise value of approximately $1.9 billion and anticipated market capitalization of approximately $1.4 billion at closing.
The transaction will be financed through $348 million of cash held in Juniper’s trust and a $250 million PIPE, which includes investments by Baron Capital Group, Fidelity Management & Research Company LLC, as well as members of Juniper’s Board of Directors, including Dave Cote, Former Chairman and CEO of Honeywell.
The company would continue to operate as Janus and would list on the NYSE under “JBI”. Clearlake will remain the largest shareholder in the combined company upon completion of the transaction, and current CEO Ramey Jackson will continue to lead the company.
