News

PE firm acquires Sargent and Greenleaf

January 31, 2019

Sargent and Greenleaf, a manufacturer of mechanical and electronic locks, has announced that OpenGate Capital, a private equity firm, has entered into an agreement to acquire the company from Stanley Black & Decker.

"Sargent and Greenleaf is enthusiastic about the many exciting opportunities that lay ahead," Chief Operating Officer Keith Deaton said in a press release. "During the acquisition, we will continue operating to bring our customers high-quality products. With the support from OpenGate Capital, we will develop and release innovative locking solutions for safes, vaults, ATMs and highly sensitive environments, while building even stronger customer relationships." 

S&G will transition into a stand-alone business under the ownership of OpenGate Capital. Leaders within both organizaitons will work closely to leverage resources that will help S&G grow and create sustainable long-term value, the release said.

"We are excited to work with the team at S&G and build upon the legacy of the business," OpenGate Managing Director Paul Bridwell said. "We look forward to partnering with management in their focus on growth by further strengthening S&G’s commercial reach and investing into the company’s product innovation engine."

The transaction is anticipated to be completed in Q1. Financial terms were not disclosed.