dormakaba Agrees to Acquire Mesker Openings Group, Expanding Business in North America
November 9, 2016 9:43am
Reamstown, PA - 9 November 2016 - dormakaba has signed an agreement to acquire US-based Mesker Openings Group and expects to close the transaction in 2016 upon the satisfaction of customary closing conditions.
With the consummation of the acquisition of Mesker, a leader in the commercial door and hardware industry in the USA, dormakaba will increase the breadth of its product offering in North America. “The acquisition of Mesker is a continuation of the industrial logic underlying the merger to dormakaba and a consistent implementation step of our strategy for North America“, says CEO Riet Cadonau. “It will expand our offering in North American to include all essential door components as well as secure access to buildings and rooms from a single source.”
Mesker was founded in 1864 and is based in Huntsville (Alabama/USA). It offers a diversified product portfolio for commercial, industrial and institutional uses under four well-recognized brands in the industry (Mesker Door, Hollow Metal Xpress, Design Hardware, and Wood Door Xpress). The company’s five manufacturing and distribution facilities are strategically located in key regions providing significant efficiencies in delivering customizable products with very short lead times.
“By acquiring Mesker, we will add to our portfolio such products as manual doors and frames”, says Michael Kincaid, COO AS AMER. “This will enable us to serve customers more effectively and broadly, as some customer groups in our market request a full package, including doors.” The addition of Mesker will also provide dormakaba with expanded distribution network and channels, and it will open up attractive sales opportunities due to dormakaba’s presence in verticals such as Lodging and Multihousing, as well as in sales channels such as Security Hardware, Contract Hardware Distribution and Services.
Mesker has about 400 employees and generated turnover of about USD 67 million in 2015 (US GAAP), with an adjusted EBITDA margin close to 20%.
The purchase price is USD 142.5 million, which amounts to an EBITDA multiple of 8.9x on 2016E basis. The acquisition is expected to be accretive to Group EBITDA margin as well as to EPS from day one.
For further information:
Vice President – Marketing
electronic door locks,
access control systems,
mobile access solutions
dormakaba Group is one of the top three companies in the global market for access and security solutions. With strong brands such as Dorma and Kaba in our portfolio, we are a single source for products, solutions, and services related to doors and secure access to buildings and rooms. With around 16,000 employees and numerous cooperation partners, we are active in over 130 countries. dormakaba Group is headquartered in Rümlang (Zurich/Switzerland) and generates an annual turnover of over CHF 2 billion.
SIX Swiss Exchange: DOKA (formerly: KABN / KABNE)
Further information at www.dormakaba.com
Contact: Stephen Pollack
dormakaba Brings a Total Hospitality Access Solution Suite to HITEC
dormakaba Launches Its Advanced Saffire LX™ Electronic Lock at HITEC
dormakaba Brings Ambiance™ Mobile Tablet Keycard Encoding Flexibility to HITEC
dormakaba Arrives at HD Expo With A Full Suite of Property Entrance and Opening Systems and Electronic Locks
Top Three 'Best US Hotels in 2018' Rely on dormakaba Electronic Locks
dormakaba White Paper: Steps to Deliver a 21st Century Mobile Access Experience
dormakaba and OpenKey Partner For Mobile Access at AMResorts
Kerry Hirschy to Retire from dormakaba After a Successful 31 Year Career
YOTEL Installs dormakaba Electronic Locks at Boston Hotel
dormakaba Delivers ‘Smart Design Access’ at HX With Quantum® Pixel and Ambiance Solutions
dormakaba Video: Steps for Easy Hotel Mobile Access Adoption
Le Pavillon Hotel Implements dormakaba Mobile Access in Combination with OpenKey App
John Q. Hammons Hotels & Resorts Standardizes Multi-brand Portfolio on dormakaba Electronic Door Locks
dormakaba Launches Quantum® Pixel, the Next Generation of Quantum Locks at HITEC
Save the Date: Learn How to Simplify Mobile Adoption in May 31 Webinar
dormakaba, Intelity, StayNTouch Announce Webinar to Simplify Mobile Adoption
Respected Security Company York Access Control Endorses dormakaba Electronic Door Locks for All Projects
Seven of the “Best 15 Hotels in the USA” Trust dormakaba Electronic Locks
Beauport Hotel Gloucester Trusts dormakaba Saflok Networked Locks
dormakaba Completes Acquisition of Mechanical Security Businesses from Stanley Black & Decker - New Top-Three Player in North American Market
Please login or register to post a comment.