Sargent and Greenleaf (S&G), a manufacturer of high-quality mechanical and electronic locks, announced today that it has been acquired by OpenGate Capital, a global private equity firm. News of S&G and OpenGate Capital entering into an agreement to acquire was initially announced in January and financial terms were not disclosed.
“With the support from OpenGate Capital, we are working to develop and release advanced locking solutions for safes, vaults, ATMS and highly sensitive environments quicker to market while building even stronger customer relationships,” said Keith Deaton, COO at Sargent and Greenleaf. “S&G has won multiple industry awards over the past five years in recognition of product innovation in the many channels of businesses we serve, and working with OpenGate Capital, we are enthusiastic about the many exciting opportunities that lay ahead.”
Established in 2005, OpenGate Capital is a global private equity firm that strives to acquire and optimize lower middle market businesses throughout North American and Europe. Leaders within both companies will collaborate to leverage resources to support S&G’s mission to drive innovation into the business through technological enhancements. S&G will transition into a stand-alone business under the ownership of OpenGate Capital.
“Through our collaboration with the management team at S&G, we have already developed many new initiatives to accelerate the company’s growth and apply new technologies to its broad and deep product line,” said Paul Bridwell, Managing Director at OpenGate Capital, who is responsible for managing and supporting operations of the firm’s investments in North America. “This is a business with a deep and rich heritage and we’re incredibly proud to welcome S&G into our second fund’s portfolio.”
For more information, please visit www.sargentandgreenleaf.com or call (859) 885-9411.