Premier Steel Doors and Frames, a maker of hollow metal doors and frames, has completed the add-on acquisition of MegaMet Industries.
OpenGate acquired Sargent and Greenleaf in May 2019 from Stanley Black & Decker, and in December 2019 it closed two add-on acquisitions with the buys of Monroe, Louisiana-based Premier Steel Doors and Frames, and Cumming, Georgia-based Delaney Hardware Company, a provider of security hardware products.
MegaMet is a manufacturer of heavy-duty, customized hollow metal doors used in the government, medical and commercial sectors. The company’s products provide a range of functionality including acoustical sound control, ballistic and blast resistance, detention, shielding from electromagnetic interference (EMI) and radio-frequency interference (RFI), x-ray protection, and other life-safety functions.
Birmingham, Alabama-based MegaMet was founded in 1995 by CEO Edward Wall, Jr., who will continue in an executive role with the company post-closing.
“The acquisition of MegaMet by Premier is an incredible opportunity for our team,” said Mr. Wall. “We look forward to expanding our business alongside Premier, and this partnership will allow us to better service our growing customer base.”
Sargent and Greenleaf, more commonly known among safe and vault technicians as S&G, manufactures combination locks, key-operated safe and safe deposit box locks, high security military padlocks, and other related equipment. The company was founded in 1857 and is headquartered in Nicholasville, Kentucky.
MegaMet will join Premier as part of S&G’s Door Solutions Group. “We are excited to welcome MegaMet to the Premier team. The integration of Premier and MegaMet advances our mission to expand into additional industries and complements our overall product offering, so that we can now provide a wider array of products for our customers’ applications,” said Joey Meggs, the president of Premier.
OpenGate acquires companies that have revenues from $50 million to $1 billion and specializes in corporate carve-outs and complex situations. The firm was founded in 2005 and is headquartered in Los Angeles with an additional office in Paris.
The OpenGate transaction team included Managing Director Matthias Gundlach; Principal Aaron Figura; Managing Director – Operations Paul Bridwell; and Senior Vice President – Operations Andrew Martinez.
OpenGate and Premier continue to seek additional add-on investment opportunities.
Private Equity Professional | October 7, 2020