OpenGate Capital to acquire S&G from Stanley Black & Decker

LOS ANGELES and PARIS—OpenGate Capital, a global private equity firm, announced that it has signed an agreement to acquire Sargent and Greenleaf (S&G) from Stanley Black & Decker. The transaction is anticipated to be completed in Q1 2019. Financial terms were not disclosed.

S&G focuses on the specialized high security lock industry. Founded in 1857 and headquartered in Nicholasville, Ky., 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 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.

“We are extremely pleased to have reached an agreement to acquire S&G from Stanley Black & Decker,” OpenGate Capital's founder and CEO Andrew Nikou said in the announcement. “We have already started to review how our newly launched OGx capability can drive innovation into the business through technological enhancements as part of our full potential strategy and believe real growth can be achieved.”

Matthias Gundlach, the managing director at OpenGate Capital responsible for leading the transaction, added, “We are proud to partner with Stanley Black and Decker on this transaction. S&G represents in many ways the key hallmarks of an OpenGate Capital deal: it is a market leader, with a trusted brand, successfully competing on a global basis.”

Paul Bridwell, the managing director at OpenGate Capital responsible for managing and supporting operations of the firm's investments in North America, noted that he “looks forward to accelerating the company's growth through strengthening S&G's commercial reach and applying new technologies to its broad and deep product line.”

Established in 2005, 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. OpenGate Capital is headquartered in Los Angeles, California with a European office in Paris, France.