dormakaba signed an agreement to divest its hollow metal doors business, Mesker, to the key principals of Trimco and Metal Manufacturing Industries. The transaction will enable management to focus on dormakaba’s access solutions offering, an important step in the turnaround of the company’s Americas core business.
U.S.-based Trimco is a recognized leader in the North American market for innovating, designing and manufacturing architectural hardware solutions. MMI is the premier hollow metal doors and frames manufacturer in the Mexican market, exporting its products to Central and South America. The transaction will include 300 employees who will be taken on by the new owners.
“This divestment will enable our Region Americas to focus on our core business,” says Jim-Heng Lee, CEO dormakaba. “It is an important step for the turnaround of the Americas’ core business and thus for the implementation of our growth strategy. We are pleased that we have found new owners with the specialized expertise needed for the Mesker business to thrive.”
dormakaba acquired Mesker in 2016. The Design Hardware brand acquired with the Mesker business was separated and profitably integrated into the main Americas business. The remaining hollow metal doors business has had a negative impact on the financial performance of Region Americas for some years; in the first half-year of financial year 2021/22 it diluted the adjusted EBITDA margin of AS AMER by 230 basis points and of dormakaba Group by 60 basis points.
