Subsequent Events |
12 Months Ended |
|---|---|
Jan. 03, 2026 | |
| Subsequent Events [Abstract] | |
| Subsequent Events |
20. Subsequent Events
For the Consolidated Financial Statements as of January 3, 2026, we have evaluated subsequent events through the issuance date of the financial statements. Except for the following, there are no subsequent events identified that would require disclosure in the financial statements.
Kiwi II Acquisition
On January 8, 2026, we entered into, and closed the Asset Purchase Agreement, dated as of January 8, 2026 (the “Kiwi Agreement”) with Kiwi II Construction Inc., a California corporation (“Kiwi Construction”), Kiwi II East Inc., a Tennessee corporation (“Kiwi East”), Metal Tech, Inc., a California corporation (“Metal Tech” and, together with Kiwi Construction and Kiwi East, the “Kiwi Sellers”), certain individuals (the “Beneficial Owners” and, together with the Kiwi Sellers, the “Kiwi Seller Parties”). As consideration for the Kiwi Acquisition, the Company paid approximately $97.2 in cash to the Kiwi Seller Parties.
Repricing
On February 2, 2026, we completed a repricing pursuant to Amendment No. 8 (the “2026 Repricing Amendment”) to our First Lien Credit and Guarantee Agreement (the “First Lien”), dated as of February 12, 2018, by and among Janus Intermediate, LLC, a wholly owned subsidiary of ours (“Janus Intermediate”), Janus International Group, LLC, a wholly owned subsidiary of ours (“Janus International”), Goldman Sachs Bank USA (as successor to UBS AG, Stamford Branch), as administrative agent and collateral agent and the other parties thereto. The 2026 Repricing Amendment reduces the applicable interest rate margins on the First Lien’s term loans by 50 basis points to 1.00% (for the term loans bearing interest at rates based on the base rate) and to 2.00% (for the term loans bearing interest at rates based on the secured overnight financing rate).
IEEPA Tariffs
On February 20, 2026, the U.S. Supreme Court issued a ruling in Learning Resources, Inc. v. Trump, striking down certain tariffs previously imposed under the International Emergency Economic Powers Act (“IEEPA”). The ultimate availability, timing, and amount of any potential refunds of such tariffs remain highly uncertain and are subject to further legal, regulatory, and administrative developments. Following the Supreme Court’s decision, the Trump Administration implemented a 10% global tariff under Section 122 of the Trade Act of 1974, effective February 24, 2026 for a period of 150 days. There remains substantial uncertainty regarding the duration of existing and newly announced tariffs, potential changes or pauses to such tariffs, tariff levels, and whether further additional tariffs or other retaliatory actions may be
imposed, modified, or suspended, and the impacts of such actions on our business. We continue to monitor and evaluate these developments and assess their potential impact on our business, financial condition, and results of operations.
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