MASON CITY – ASSA ABLOY has sold its Wood Door business – with a plant in Mason City – to Masonite.
The ASSA ABLOY Wood Door business consists of two companies Graham Wood Doors, based in Mason City, Iowa and The Maiman Company, based in Springfield, Missouri with a total of 275 employees. Graham is a manufacturer of flush architectural wood doors and Maiman is a manufacturer of thermal fused doors and stile and rail doors. The business had a turnover in 2017 of approximately USD 70 million (approx. SEK 600 million).
“I find it very satisfying that with Masonite the Wood Door business and employees get a committed, experienced owner that gives the business a new home and creates opportunities for the future,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“It was important to us that our customers, architects and end-users have continuity for products, service and support so these businesses are in good hands,” states Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “We will continue our focus on our steel door and frame leadership development in the market.”
The transaction will have a positive effect on ASSA ABLOY´s operating margin and be neutral to EPS.
Graham provides the non-residential construction industry with a full range of architectural premium and custom grade flush wood doors. Maiman is a manufacturer of architectural stile and rail wood doors, thermal fused flush wood doors and wood door frames.
The two divisions employ approximately 275 people located in their three manufacturing facilities in Mason City, IA and Springfield, MO.
Net sales for the two divisions for the twelve months ended December 2017 were approximately $70 million.
“We believe this acquisition fits well with Masonite’s existing Architectural business. Graham and Maiman will provide Masonite with an expanded footprint to better serve our customers,” said Graham Thayer, Masonite’s Senior Vice President, Architectural.
The acquisition of these assets marks Masonite’s ninth acquisition in the last four years.
Masonite International Corporation is a leading global designer and manufacturer of interior and exterior doors for the residential new construction; the residential repair, renovation and remodeling; and the non-residential building construction markets. Since 1925, Masonite has provided its customers with innovative products and superior service at compelling values. Masonite serves more than 7,000 customers in 65 countries. Additional information about Masonite can be found at www.masonite.com.
