Lorient Group Limited, a leading designer and manufacturer of high performance door sealing systems, with its headquarters based at Heathfield just outside of Newton Abbot has been acquired by ASSA ABLOY.
ASSA ABLOY is an international group with around 47,000 employees and sales close to £6.4 billion. In the UK, ASSA ABLOY is best known for the Yale and UNION brands and has its Head Office and main manufacturing centre in Willenhall.
“Lorient are an exciting addition to our UK business and I am delighted to welcome their teams into ASSA ABLOY”” says Harry Warrender Market Region Manager for ASSA ABLOY Opening Solutions UK. “It offers an extensive high quality range of sealing systems for door assemblies and sets with a strong track record of innovation. Their portfolio will extend the ASSA ABLOY offering into the commercial market in the UK and overseas.”
Lorient was established in 1979 and employs approximately 135 employees around the world with over 100 at the Newton Abbot operation. It has businesses in the USA, Dubai, Singapore, Hong Kong and Australia.
Maria Powell, Group Managing Director of Lorient commented: ”Becoming part of this leading global company will afford huge opportunities to our businesses and staff around the world. With nearly 40 years under our belt – the time is now right to create the platform from which to launch the next phase of our successful story.”
The shareholders were advised by EY’s Corporate Finance team in Bristol led by Tony Trussell and Chris Eastman, assisted by Tove Rejstrom and Mark Fruish. EY’s Transaction Services team provided Financial and Tax Vendor Assist services, led by Allan Noble and Edward Murphy. TLT provided legal support, led by Andrew Webber and Nina Searle.
