Kaba and Dorma in $US2.1 Billion Locking and Access Control Merger
Kaba and Dorma Holding have agreed to a merger deal that would create a power new access control business with a turnover of $US2.1 billion second in size to Assa Abloy.
Kaba will become a holding company that owns a 52.5 per cent stake in the new operating business called Dorma+Kaba. The Mankel and Brecht-Bergen family, which owns Dorma, will acquire a 9.1 per cent stake in Kaba giving the family’s interest in the merged business to 52.3 per cent, while ensuring it doesn’t have absolute control as its direct stake is 47.5 per cent.
“By merging our 2 globally established companies, we will significantly strengthen our market position,” Dorma Chairman Hans Gummert said in the statement. “Our strategies also largely correspond with one another.”
Blake Kozak, a principal analyst, security and building technologies for HIS, says the merger will combine complementary product offerings, as well as fill gaps in each company’s current portfolio of physical security and entrance-control equipment, says.
“Dorma will bring to the deal door automation-control expertise including revolving doors, swing doors, slide doors and industrial doors; while Kaba offers a larger portfolio of pedestrian-control equipment such as turnstiles, gates and security doors, as well as hospitality and commercial electronic-locking devices,” Kozak said.
The combined organisation will have 16,000 staff and operations in more than 50 countries.♦