Deloitte acted as exclusive financial advisor to dormakaba Holding AG (“dormakaba”), a Switzerland-based manufacturer of access control, security solutions and door hardware products, on the divestment of its interior glass business (“IGS”). The transaction includes the transfer of dormakaba’s global interior glass solution products, its manufacturing site in Germany, selected sales units in Western Europe as well as 235 employees, who will be taken on by the new owner.
About the transaction
The Deloitte team led by Markus Schwenke (M&A Advisory) successfully advised dormakaba in the divesture of its IGS business to Italian-based industrial and financial group Aliante Equity Tre S.p.A. (“Aliante”). Deloitte provided a broad range of Financial Advisory services to dormakaba, including M&A Lead Advisory and Financial Transaction Services (Stefan Götzen).
dormakaba’s IGS business primary production facility is incorporated under DORMA-Glas GmbH, a business founded in 1978 and headquartered in Bad Salzuflen, Germany. The business comprises the manufacturing of products such as glass fittings, glass door systems, or horizontal sliding walls which are shipped via dormakaba’s regional market organisations globally. The transaction is an important step to allowing dormakaba to focus on its core business while enabling the IGS business to grow to full potential in a stand-alone environment. New investor Aliante has built up a portfolio with global presence in the design and furniture industry, that complement the IGS business and offer commercial synergies. The business represented net sales of approx. 42mEUR in financial year 2019/20.
Sabrina Soussan, dormakaba CEO stated: “This divestment is an important step towards optimizing our offering by focusing on our core business. Based on its independence and limited integration in our main offering, we are convinced that the IGS business will have better opportunities to successfully thrive outside of dormakaba. We are pleased that with Aliante we have found a new owner that will take the business to the next level.”
As a leading German M&A advisor with strong industry know-how and the ability to deliver highly flexible, client-tailored solutions, Deloitte demonstrated first-class cross-border execution capabilities. Deloitte’s support for dormakaba provided a significant contribution to a smooth, efficient and successful transaction. In addition, Deloitte demonstrated its capabilities as a cross-functional organization with Deloitte Corporate Finance Advisory working together seamlessly alongside several additional Deloitte work streams to provide the client with an integrated service package from a single source.
Both parties have agreed to not disclose further financial details of the transaction. It is expected to be closed in the fourth quarter of 2021.
About the client
dormakaba makes access in life smart and secure. As one of the top three companies in the industry, dormakaba is the trusted partner for products, solutions, and services for access to buildings and rooms from a single source. With strong brands in its portfolio, the company and its numerous cooperation partners are represented in over 130 countries worldwide.
dormakaba is listed on the SIX Swiss exchange, is headquartered in Rümlang (Zurich/Switzerland) and generated a turnover of CHF 2.5 billion with around 15,000 employees in financial year 2020/21.
About Deloitte – Corporate Finance Advisory
As leading independent M&A advisors, we provide M&A deal execution and financial advisory services to large and mid-market corporations as well as to private equity firms globally. We offer financial advice and insight at every stage of a transaction – from consideration of strategic options to transaction execution, be it an IPO, acquisition or divestment, restructuring or fast track disposal. We pride ourselves in our independent advice to our clients.
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