dormakaba Completes $142M Deal to Acquire Mesker Openings Group
Mesker has about 400 employees and reported turnover of about $67 million in 2015, with an adjusted EBITDA margin close to 20%.
dormakaba has satisfied the conditions necessary in order to complete the acquisition of Mesker Openings Group and closed the transaction effective Dec 12.
RÃœMLANG, Switzerland – dormakaba, based here, completed the acquisition Mesker Openings Group, a commercial door and hardware company. The $142.5 million purchase price is said to amount to an EBITDA multiple of 8.9x on 2016E basis.
Mesker was founded in 1864 and is based in Huntsville, Ala. The company offers a diversified product portfolio for commercial, industrial and institutional uses under four brands: 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 of the United States, providing significant efficiencies in delivering customizable products with very short lead times.
Mesker has about 400 employees and reported turnover of about $67 million in 2015, with an adjusted EBITDA margin close to 20%.
For all the latest M&A news, go here.
With the acquisition of Mesker, dormakaba will increase the breadth of its product offering in North America, including products such as manual doors and frames. It will also provide dormakaba with expanded distribution network and channels, and it will open up 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.
dormakaba was created in 2015 following the merger agreement between Germany’s Dorma Holding and Kaba. The transaction created a top-three player in the door hardware and access control equipment market with revenue topping $2.1 billion.
If you enjoyed this article and want to receive more valuable industry content like this, click here to sign up for our FREE digital newsletters!
Related Content
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Commercial Integrator + Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add to your bottom line.
A FREE subscription to the top resource for security and integration industry will prove to be invaluable.
