High Security Lock Manufacturer is Third Acquisition Completed in OpenGate Capital’s Second Institutional Fund
LOS ANGELES, CA and PARIS, FRANCE – June 3, 2019 – OpenGate Capital, a global private equity firm, announced that on Thursday, May 30th, it had acquired Sargent and Greenleaf (“S&G”) from Stanley Black & Decker (NYSE: SWK). The transaction marks the third investment completed in May through OpenGate Capital’s second institutional fund. Financial terms were not disclosed.
Andrew Nikou, OpenGate Capital’s founder and CEO commented, “The acquisition of S&G from Stanley Black & Decker is an important investment for our firm. The S&G business is well-suited for our newly launched OGx capability that will drive innovation into the business through technological enhancements as part of our full potential operational strategy. Secondly, the investment represents our strength in partnering with corporations divesting non-core assets. Since 2005 we have been a trusted strategic partner for many of the world’s leading corporations and we’re proud to have the confidence of Stanley Black & Decker to drive the next era of growth for S&G.”
S&G is a leading brand in the specialized high security lock industry. Founded in 1857 and headquartered in Nicholasville, Kentucky, the business has approximately 120 employees globally with a vast distribution footprint that enables S&G to sell its products into more than 100 countries. S&G designs and manufactures innovative, high-quality mechanical and electronic locks for safes, vaults, safe deposit boxes and highly sensitive environments. Customers are varied across many segments including banking, cash transit, residential security, railroad / utilities and government security segments. S&G is a pioneer in the high security industry, inventing several industry firsts, and has a leading innovation and digital platform that consistently brings new and improved products and features to the market.
The acquisition of S&G follows the recently completed, European acquisitions of SMAC from Colas, and Fiven from Saint-Gobain.
About OpenGate Capital
OpenGate Capital is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Established in 2005, OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate Capital, through its legacy and fund investments, has executed more than 30 acquisitions including corporate carve-outs, management buy-outs, special situations and transactions with private sellers across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
About Sargent and Greenleaf
Sargent and Greenleaf is one of the world’s leading manufacturers of medium- and high-security locks and locking systems. Since 1857, Sargent and Greenleaf has provided security solutions to financial institutions, commercial businesses, governments and consumers around the world. Delivered through an international network of distribution partners, Sargent and Greenleaf products continue to set the standard for quality, value and technical innovation. To learn more about Sargent and Greenleaf, please visit www.sargentandgreenleaf.com
For more information, please contact:
OpenGate Media Contacts
Telephone: +1 (310) 432-7000
Sitrick & Company
Telephone: (310) 788-2850
OpenGate Business Development Contact
Telephone: +1 (310) 432-7000
Sargent and Greenleaf Contact
Murphy Knott Public Relations, Inc.
Telephone: +1 (312) 867-9177