A security products firm has expanded its reach with a buyout deal.
Assa Abloy, whose UK arm is headquartered in Willenhall, has acquired Kent-based Sunray Engineering Group in an undisclosed deal.
Assa Abloy specialises in the manufacture of locks, doors, gates and entrance automation while Ashford firm Sunray is a highly profitable designer and manufacturer of high-specification steel and timber security doors, fire doors and louvre systems.
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Neil Vann, executive vice-president of Assa Abloy, said: “With Sunray Engineering and its great team, we want to develop our presence within the high-specification doors and louvre systems markets.
“Sunray Engineering has a long and successful history in the UK, making it a fantastic opportunity to help us realise our growth ambitions and expand our full door specification offering.”
The Midlands corporate finance team at financial services firm BDO acted for Sunra …