NEW YORK & PARIS–(BUSINESS WIRE)–OpenGate Capital (“OpenGate”), a global private equity firm specializing in complex corporate carve-outs and operational transformations across the industrial and business services sectors, announced today that its portfolio company Sargent and Greenleaf (“S&G”) has completed the sale of its high-security locking division to ASSA ABLOY, a global leader in access solutions.
OpenGate acquired S&G from Stanley Black & Decker in May 2019. In December 2019, S&G acquired Delaney Hardware and Premier Steel Doors, a leading provider of steel doors. Premier Steel Doors was sold to ASSA ABLOY in December 2024. Delaney Hardware, a provider of premium residential hardware, will remain under OpenGate’s ownership and is not part of the transaction.
“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.”
With the support of OpenGate’s Operations team, S&G has implemented growth and efficiency initiatives, evolving into a globally focused security leader, building new international partnerships and re-establishing customer and supplier relationships to enable expanded sales and product development. OpenGate’s strategic guidance is further reflected in S&G’s restructured supply chain and improved manufacturing reliability, enhancing forecasting accuracy, on-time delivery and strategic investments in personnel and equipment.
“This marks our second successful transaction with ASSA ABLOY, a testament to the strong working relationship and mutual respect between our teams,” said Andrew Nikou, Founder and Managing Partner at OpenGate. “We’re proud of the growth we’ve achieved and are excited to see the business enter its next chapter with a buyer who shares our commitment to creating long-term value.”
Terms of the agreement were not disclosed.
About OpenGate
OpenGate is a global private equity firm specializing in the acquisition and operation of businesses to create new value through operational improvements, innovation and growth. Headquartered in both New York and Paris, OpenGate has been building and transforming businesses since 2005. OpenGate’s professionals possess the critical skills needed to acquire, transition, operate, build and scale successful businesses. To date, OpenGate has executed more than 40 platform acquisitions across North America and Europe. To learn more about OpenGate, please visit www.opengatecapital.com.
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