ASSA ABLOY has moved to acquire Sargent and Greenleaf, a longtime maker of high-security mechanical and electronic safe-locking systems with roots dating back more than 160 years. The Nicholasville, Kentucky company produces locks for safes, vaults and sensitive SCIF applications.
This is the third ownership change in the last 25 years for S&G, which was an independent lock manufacturer from its start in 1857 until 2005. In January of 2005, S&G was acquired by The Stanley Works and became a subsidiary of the Stanley Security Solutions group. Then, in 2019, Stanley Black & Decker sold the company to OpenGate Capital, a global private equity firm.
In 2020, S&G acquired Delaney Hardware Company, a manufacturer of premium builder hardware for residential homes, multi-family buildings, and commercial projects. S&G’s acquisition of Delaney includes its Premier Steel Doors & Frames division, a specialty manufacturer of hollow metal security doors and frames with operations in Monroe, Louisiana; Houston, Texas; and Austell, Georgia.
"This transaction is a testament to the incredible work of our team," said Chris Casazza, S&G CEO. "I’m proud of everything we’ve accomplished with OpenGate since 2019, and I’m confident that with ASSA ABLOY’s support, the next chapter for S&G will be a success."
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"I am very pleased to welcome Sargent and Greenleaf to ASSA ABLOY. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“Sargent and Greenleaf has set the benchmark for high-security locking solutions with decades of proven innovation and trusted performance,” says Lucas Boselli, Executive Vice President ASSA ABLOY and Head of the Americas Division. "This acquisition strengthens our secure access portfolio and brings Sargent and Greenleaf's renowned expertise closer to our customers. We're excited to explore new applications and growth opportunities across commercial, institutional, and high-security environments."
Sargent and Greenleaf has approximately 100 employees. Sales for 2024 amounted to about $45 million. Terms of the agreement were not disclosed.
A legacy in safe-locking
The story of innovation for Sargent and Greenleaf began in 1857 when James Sargent, an inventive young sales representative for Yale and Greenleaf Lock Manufacturers, designed a lock that far surpassed any security advice available at that time. Sargent’s Magnetic Bank Lock was the first lock that allowed for a combination to be easily reset with a special key, immediately upgrading the level of security available to every bank, safe and vault in the world. In 1865, after the United States Treasury had adopted this security solution.
Shortly after its invention, Sargent partnered with Halbert Greenleaf. The two formed Sargent & Greenleaf (S&G) and established their factory in what would become the company’s home until the mid 1970s, Rochester, New York. At the end of World War II, Harry C. Miller joined the company, becoming owner and president in 1953. In 1975 the Rochester factory closed with a new facility opening in Nicholasville, Kentucky, a hub of safe lock manufacturing and home of Lockmasters.
Key milestones in S&G’s product development include:
- 1980: S&G is awarded a Department of Defense contract for high-security padlocks.
- 1994: S&G introduces the first Electronic Safe Lock, the 6120, which is still manufactured today.
- 2005: S&G begins production of the IP Series Lock and Biometric Keypad Lock, representing a significant advance in technology
- 2015: S&G invents and produces the S&G 2890B Lock, a modular locking solution that revolutionizes high-security areas within government facilities by meeting both security and life safety demands of the highly sensitive SCIF environments.
This article first appeared on SecurityInfoWatch sister brand locksmithledger.com.
About the Author
Emily Pike
Managing Editor, Locksmith Ledger magazine
Emily Pike is managing editor of Locksmith Ledger magazine.