Sale of Truth Hardware to Tyman PLC

Industrial
Sale of Truth Hardware to Tyman PLC

Summary

Baird served as the exclusive financial advisor to Melrose Industries PLC

About

Melrose Industries PLC (“Melrose”) (LSE:MRO) recently completed the sale of Truth Hardware Corporation (“Truth”) to Tyman PLC (“Tyman”) (LSE:TYMN) for $200 million in cash.

Truth is a leading North American designer and manufacturer of operating hardware sold directly to manufacturers of residential and light commercial windows and doors. With a complete line of operators, locks, hinges, multi-point locking systems, rollers and motorized hardware options, Truth’s products are used on wood, vinyl, metal and fiberglass windows, skylights and patio doors. Truth is headquartered in Owatonna, Minnesota and operates an additional facility in Brampton, Ontario, Canada.

Melrose is a publicly traded investment group that consists of four distinct operating divisions: Energy, Lifting, Elster and Other Industrial. Melrose aims to increase shareholder value through growth in its core portfolio, while seeking acquisitions of manufacturing businesses with solid fundamentals. Melrose improves its businesses through a mixture of investment, operational improvements and changed management focus. Melrose is headquartered in London, England and operates internationally.

Tyman is a leading international supplier of building products to the door and window industry. Tyman’s products include weatherproof seals that make homes more energy efficient, compact balances and reinforcers that enable windows to function effectively and a full suite of window and door hardware, including high security locks and electronic access controls. Tyman is headquartered in London, England and operates in nine separate countries across Europe, the Americas, Asia and Australasia.

For additional information about this transaction, please contact:

John Fordham +44 (0) 20 7667 8438
Chris McMahon (312) 609-4983
Chris Cooper (312) 609-5490
Vinay Ghai + 44 (0) 207-667-8225
Nick Sealy +44 (0) 207 667 8370
Industrial
Sale of Truth Hardware to Tyman PLC
Date
July 2013
Company
Melrose Industries plc
Transaction
M&A
Sectors
Industrial
Target Location
Europe
Acquiror Location
Europe

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