FKI plc acquisition of the Allen-Stevens Group and the door and hardware business of North American Die Cast Corporation
Client Buyer: FKI plc (NKA: Tyman plc)
FKI plc is an industrial holding company manufacturing engineering products. FKI plc was acquired for £478m in July 2008 by Melrose plc, a public company traded on the London Stock Exchange (MRO.L). FKI’s building products division was subsequently sold for $208m in July 2013 to Tyman plc, a public company traded on the London Stock Exchange (TYMN.L).
Seller: North American Die Cast Group Corp.
The Allen-Stevens Group, based in Detroit Michigan was a division of North American Die Cast Corporation based in Trussville, Alabama. Allen-Stevens focused on die-cast window and door hardware sold to OEM North American door and window manufacturers and the into the replacement market.
FKI’s Truth Hardware division acquired the Allen-Stevens Group and substantially all assets owned by North American Die Casting that were dedicated to the manufacturer of window and door hardware. Terms were not disclosed. This acquisition marked the fourth strategic acquisition completed by ACS as FKI’s advisor and marked the conclusion of a five-year work program to expand FKI’s building hardware business through a series of acquisitions and other business development initiatives.
Broker/Dealer: Not Applicable (pre-FINRA regulation)
Completion: May 1998