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Clearlake Capital Exits Investment in Self-Storage Supplier Janus International

January 22, 2024

2 Min Read

Clearlake Capital Group L.P., an investment firm focused on the industrials, technology and various consumer sectors, has sold its remaining shares in Janus International Group Inc., a global manufacturer and supplier of building solutions and access-control solutions for the commercial, industrial and self-storage industries. The final exit occurred in December, according to a press release.

Clearlake acquired Janus in 2018 in partnership with the founding management team and remained its largest shareholder when Janus listed on the New York Stock Exchange in 2021. Under Clearlake's ownership, Janus executed several initiatives, including the development of new access-control products and the purchase and integration of seven corporate acquisitions.

“We believe the growth and strategic transformation executed at Janus in partnership with management is a compelling story,” said José E. Feliciano, cofounder and managing partner, and Colin Leonard, partner, of 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 [Janus] CEO Ramey Jackson and his management team and looks forward to following the company's future successes.”

“We are proud of the partnership with Clearlake and the experience and resources they dedicated to our business over the years,” Jackson said. “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 OPS (operations, people and strategy) value-creation framework in action,” added Clearlake Principal Nate Mejías. “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.”

In recent years, Janus’ business initiatives have included the development of its R3 (restore, rebuild and replace) division, an expansion within the commercial and industrial segments, and international growth. In addition, the company developed proprietary access-control technologies now sold under the Nokē brand and acquired several self-storage firms, including BETCO Inc. and DBCI.

Headquartered in Temple, Georgia, and founded in 2002, Janus offers roll-up and swing doors, hallway systems, relocatable storage units, and facility- and door-automation technologies. The company operates out of several U.S. locations and seven international offices.

Founded in 2006 and headquartered in Santa Monica, California, Clearlake operates integrated businesses across private equity, credit and other related strategies. It has more than $70 billion in assets under management.

Source: PR Newswire, Clearlake Completes Exit of its Investment in Janus International

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