FOR IMMEDIATE RELEASE
June 30, 2017
Richmond, VA – Transact Capital Partners is pleased to announce that a Maryland-based door distributor with a significant presence in Richmond, Atlantic Door Control, was acquired by ASSA ABLOY. Transact Capital Partners served as the exclusive financial advisor to Atlantic Door Control.
Atlantic Door Control installs and services automatic doors from two offices in Maryland and Virginia. The merger combines the strengths of both companies and expands ASSA ABLOY’s presence on the East Coast.
Patrick Morin, Managing Director at Transact Capital, represented Atlantic Door Control and commented: “This was an exceptional transaction for both companies. ASSA ABLOY was seeking an acquisition to help them gain a foothold in the Mid-Atlantic markets; they found it in Atlantic Door Control with its leadership, reputation, and strong growth trajectory.” Jim Sowers, Leslie Garry, and Patrick Brown also served on the ADC team.
“I am very pleased that Atlantic Door Control is joining the ASSA ABLOY Group. I welcome this addition that further reinforces ASSA ABLOY’s leadership in entrance automation in the US,” says Johan Molin, President and CEO of ASSA ABLOY. He continued, “The acquisition will be accretive to EPS from the start.”
“We hereby continue our expansion in North America, adding to our growing market footprint. Atlantic Door Control gives us a strong presence in an important area of the market and I welcome the team to ASSA ABLOY,” says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
ASSA ABLOY is a Swedish lock manufacturer and a global leader in door opening solutions. ASSA ABLOY is the world’s largest lock manufacturer by sales volume.
Transact Capital Partners is a full-service mergers and acquisitions advisory, business brokerage, and valuation firm headquartered in Richmond, VA, with offices in Roanoke, VA, Lexington, KY, and Orlando, FL. Transact focuses on the needs of privately held companies in the lower middle market with enterprise values under $100 million. With extensive experience in owning, running, and investing in private companies or divisions of public companies, the firm’s principals are able to assist many business owners exit their companies or explore other opportunities. Securities and investment banking transactions are offered through Transact Capital Securities, LLC. Member FINRA and SIPC.
To learn more about this transaction, or Transact Capital Partners, please contact Steve Zacharias at 804-612-7102 (Steve@TransactCapital.com) or Jim Sowers at 804-612-7110 (Jim@TransactCapital.com). Additional information about Transact Capital Partners can be found at www.TransactCapital.com.