October 05, 2020
Acquisition Expands Product Offering in High Growth Markets
LOS ANGELES, CA – October 5, 2020 – OpenGate Capital, a global private equity firm, announced today that Premier Steel Doors and Frames (“Premier”), a leading manufacturer of hollow metal doors and frames, has acquired MegaMet Industries (“MegaMet”), a manufacturer of customized acoustic, blast-proof, and other specialty hollow metal doors, from a private seller. Terms of the transaction were not disclosed.
In May of 2019, OpenGate acquired Sargent and Greenleaf (“S&G”) from Stanley Black & Decker. In December of 2019, S&G acquired Premier along with Delaney Hardware Company (“Delaney”), a leading provider of security related hardware products. MegaMet will join Premier as part of the Door Solutions Group within the S&G family of brands.
Founded in 1995 and headquartered in Birmingham, Alabama, MegaMet designs and fabricates specialty and custom hollow metal door systems for government, medical, and commercial end-markets. MegaMet’s core product offering includes acoustic, blast-proof, ballistic and radio frequency shield doors for the most demanding environments. MegaMet’s founder, Edward Wall, Jr., will continue to serve in an executive role in the business.
The addition of MegaMet branded products complements Premier’s high-quality product offering and commitment to customer service, and further expands Premier’s offering in the high growth, custom and specialty door market. The combined businesses will benefit from Wall’s decades of experience in product development as Premier continues to provide a full suite of solutions to its customers. Premier continues to actively seek additional add-on investment opportunities.
“We are excited to welcome MegaMet to the Premier team. The integration of Premier and MegaMet advances our mission to expand into additional industries and complements our overall product offering, so that we can now provide a wider array of products for our customers’ applications,” said Joey Meggs, President of Premier.
“The acquisition of MegaMet by Premier is an incredible opportunity for our team. We look forward to expanding our business alongside Premier, and this partnership will allow us to better service our growing customer base,” said Wall, CEO of MegaMet.
MegaMet was sourced by OpenGate Capital through proprietary conversations with the seller. From the firm’s Los Angeles office, the following team members are responsible for negotiating and overseeing the acquisition: Matthias Gundlach, Managing Director – M&A; Aaron Figura, Principal – M&A; Paul Bridwell, Managing Director – Operations; and Andrew Martinez, Senior Vice President – Operations.
About OpenGate Capital
Founded in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North America and Europe. With a strategic international presence and a focus on corporate carve-outs and complex situations, the firm’s expertise allows it to realize a seller’s divestiture objectives while mitigating the risks associated with a business’s transition to independence. OpenGate is headquartered in Los Angeles and Paris and has a seasoned in-house team of professionals overseeing the entire lifecycle of each investment. To learn more about OpenGate, please visit www.opengatecapital.com.
About Premier Steel Doors and Frames
As part of the Door Solutions group within the S&G family of brands, Premier offers a complete line of hollow metal doors and frames including fire and storm-rated options, metal building door systems, and aluminum windows. To learn more about Premier, visit www.trustpremier.com.
The S&G family of brands deliver proven innovative security solutions that protect businesses, families, and assets around the world. The S&G family is a trusted provider of state-of-the-art high-security locks, commercial-grade doors and hardware, multi-family and residential security solutions, and high-quality door hardware and fixtures. For more information about S&G, visit www.sargentandgreenleaf.com.