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News / Truth Hardware acquisition completed
Truth Hardware acquisition completed
Danvers, MA – July 15, 2013 - Tyman, plc, the parent company of AMESBURY, has completed the acquisition of Truth Hardware of Owatonna, Minnesota, and Atlas Holdings of Brampton, Ontario from Melrose Industries, plc effective July 3, 2013. Truth Hardware is a leading manufacturer of window and door hardware for the North American residential and commercial fenestration market. Amesbury is an international leader in the fenestration market supplying hardware, sealing, and extruded products to residential and commercial markets.
"Combining Amesbury and Truth creates an organization with an extensive product portfolio and global reach," says Jonathan Petromelis, President & CEO Amesbury. “Our priority and endeavor as an integrated organization will be to provide customers within the fenestration market even greater opportunity to seek engineered solutions.”
Jeff Graby, President & CEO Truth Hardware says, “At Truth Hardware we are very excited about working with Amesbury. Combined, our position of strength and the ability to offer our customer’s the breadth of an expanded and innovative product line will be our core focus.”
The acquisition of Truth Hardware provides the Tyman group an expanded and highly complementary product portfolio especially in casement hardware. It broadens relationships within a largely common customer base of North American window and door OEMs. It also creates an enlarged and strategically positioned manufacturing footprint, including a facility in Canada. The total number of Amesbury and Truth manufacturing locations in North America is now 13.
“The key to both companies' success has been, and will continue to be, provide world class service to our customers and high quality hardware, seals and extrusions, and this acquisition will be a key element in the continued development of our strategy for North America, says Petromelis.”