dormakaba announced on Tuesday that it has completed its acquisition of Huntsville, Ala.-based Mesker Openings Group.
In a statement, dormakaba said the acquisition of Mesker, which was purchased for $142.5 million, will help expand its product portfolio 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“, domakaba CEO Riet Cadonau, said when the acquisition was first announced in November. “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 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, 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, Access Solutions – Americas, dormakaba . “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 $67 million in 2015 (US GAAP), with an adjusted EBITDA margin close to 20 percent.
