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Canadian firm takes major stake in Jeld-Wen, owner of Silver Mountain Resort

Canadian investment firm Onex Corp. is buying a majority stake in Oregon-based Jeld-Wen, which owns Silver Mountain Resort in North Idaho.

Orex, based in Toronto, is spending $675 million for its majority shares of Jeld-Wen, based in Klamath Falls, The Oregonian reported.

Of the total Onex is said to be investing $475 million in cash for a 39 percent stake. It will also issue a $189 million note convertible to additional stock.

Silver Mountain Resort in Kellogg includes a ski operation, nine-hole golf course, condos and indoor waterpark.

Jeld-Wen last winter sold three central Oregon resorts to a partnership led by Northview Hotel Group of Westport, Conn. The properties were Eagle Crest near Redmond, Brasada Ranch in Powell Butte near Bend, and the Running Y in Klamath Falls. Also sold was Ridgewater Properties, adjacent to the 

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The Spokesman-Review business team follows economic development in Spokane and the Inland Northwest.