The acquisition of certain Mechanical Security businesses from Stanley BlackÊand Decker has been completed by dormakaba, following satisfaction of customary closing conditions including the receipt of all necessary regulatory approvals.
With this acquisition, dormakaba gains substantial scale in line with its stated strategy, evolving from a distant four to a strong number three player in the North American market that can offer a full portfolio of door hardware and access control solutions, according to the company.
The company also noted that the acquisition enhances its prospects for future profitable growth through the following: a large installed base across North America, with hundreds of thousands of end-user sites, providing dormakaba with stable repeat business and opportunity for upgrades; strengthened market position; improved position in growing verticals like education and healthcare; established specification writing capabilities, allowing dormakaba to compete in additional construction bids; enhanced product breadth with a range of mechanical security solutions as well as wireless and cloud-based electronic locks.
The transaction encompasses Stanley Commercial Hardware based mainly across North America and a production facility in Taiwan, as well as GMT in China. Full operational integration is expected to take up to three years.
With the closing, Philip Bradney will join dormakaba and will take over managing responsibility for the acquired businesses in North America. For more than 20 years, he held senior management positions at Best Access Systems and Stanley.
