Janus International is the largest manufacturer and supplier of building products for the self-storage industry, with a secondary business in commercial and industrial doors. Self-storage accounts for roughly 68% of revenue, with commercial doors and related services making up the remainder. In self-storage, Janus makes roll-up and swing doors, interior hallway systems, steel building structures, and relocatable storage units. Janus sells to both large institutional REITs and smaller private operators, and positions itself as a turnkey solutions provider — offering site planning, architectural drawings, fabrication, installation management, and project management rather than just parts supply. Janus also makes Nokē Smart Entry, a proprietary access control platform that includes smart locks, a mobile app, and cloud-based software, letting operators remotely manage facility access and reduce staffing needs. Nokē had 439,000 installed units as of Q3 2025 and generates recurring, subscription-like revenue on top of hardware sales. In commercial doors, Janus makes roll-up sheet doors and rolling steel doors for warehouses and industrial facilities, and also provides renovation and maintenance services for LTL trucking terminals through its Terminal Door business. Janus organizes its self-storage revenue into new construction and R3 (restoration, rebuilding, replacement) channels; R3 is more resilient in downturns given that roughly 66% of U.S. self-storage facilities are over 20 years old. Steel is Janus's primary input cost, sourced domestically with roughly a six-month lead time. Janus pursues growth through self-storage fundamentals recovery, R3 expansion, Nokē adoption, and M&A.