Under Clearlake's ownership, Janus more than doubled
EBITDA and executed on numerous initiatives under Clearlake's O.P.S.® value creation
playbook
SANTA
MONICA, Calif., Jan. 18,
2024 /PRNewswire/ -- Clearlake Capital Group, L.P.
("Clearlake" or "the Firm"), an
investment firm focused on the industrials, technology, and
consumer sectors, today announced that the Firm sold its remaining
shares of Janus International Group, Inc. (NYSE: JBI) ("Janus" or
the "Company") and fully exited its investment in December.
Janus is a global manufacturer and supplier of turn-key building
solutions and access control technologies for the self-storage,
commercial, and industrial sectors. Clearlake acquired Janus in February 2018 in partnership with the founding
management team and remained its largest shareholder when Janus
listed on the New York Stock Exchange in June 2021. Under Clearlake's ownership, the Company executed
several initiatives, including but not limited to the development
of new access control technologies and the purchase and integration
of seven acquisitions.
"We believe the growth and strategic transformation executed at
Janus in partnership with management is a compelling story," said
José E. Feliciano, Co-Founder and Managing Partner, and
Colin Leonard, Partner, at
Clearlake. "Our thesis to partner
with Janus was centered around the Company's market position, value
proposition, margins, and free cash flow, as well as the potential
we saw for both organic and inorganic growth. Together with
management, we achieved over 140% EBITDA growth and made
investments to transition the business to a public company.
Clearlake is proud to have
partnered with CEO Ramey Jackson and
his management team and looks forward to following the Company's
future successes."
Ramey Jackson, Chief Executive
Officer of Janus, said: "We are proud of the partnership with
Clearlake and the experience and
resources they dedicated to our business over the years. It has
been an absolute pleasure working alongside their team to build
Janus into the industrial technology platform it is today."
"Janus is an example of our O.P.S.®
(Operations, People, and Strategy) value creation framework in
action," added Nate Mejías, Principal at Clearlake. "In a few short
years, Ramey and his team executed an effective buy-and-build
playbook, bolstered the management team, diversified the business,
grew internationally, and led the adoption of additional
technologies within the category."
These organic and inorganic initiatives were centered on the
goal of building a leading global provider of building solutions
and related technologies for the self-storage, commercial, and
industrial markets. Organic growth initiatives included developing
Janus's recurring Restore, Rebuild, and Replace ("R3") revenue
profile, increasing the company's addressable market by expanding
within the commercial and industrial segments, growing locations
and sales internationally, vertically integrating certain elements
of the business to capture margin opportunities, driving
operational efficiencies through procurement, plant investments and
lean manufacturing initiatives, and making investments behind
Janus's people and customers.
Utilizing Clearlake's
experience in software and technology to develop new content for
the self-storage ecosystem, Janus developed proprietary access
control technologies now sold under the Nokē brand. Inorganically,
Janus closed seven strategic add-ons and developed an integration
framework, including the acquisitions of DBCI, Nokē, and Betco,
among others.
Today, Janus serves a global customer base with over 10,000
active customers worldwide through a value proposition centered
around the manufacturing of customized built-to-order products,
supported by value-added design, comprehensive installation
services, and the development of technologies and content.
About Clearlake
Founded in 2006, Clearlake is an investment firm operating
integrated businesses across private equity, credit, and other
related strategies. With a sector-focused approach, the firm seeks
to partner with experienced management teams by providing patient,
long term capital to dynamic businesses that can benefit from
Clearlake's operational
improvement approach, O.P.S.® The firm's core
target sectors are technology, industrials, and consumer.
Clearlake currently has over
$70 billion of assets under
management, and its senior investment principals have led or co-led
over 400 investments. The firm is headquartered in Santa Monica, CA with affiliates in
Dallas, TX, London, UK, Dublin,
Ireland, and Singapore.
More information is available at www.clearlake.com.
Media Contact:
Jennifer
Hurson
Jhurson@lambert.com
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SOURCE Clearlake Capital Group