We are pleased to announce that our client Krieger Specialty Products LLC ("Krieger” or “the Company") has been acquired in an all-cash transaction by Allegion plc. Coil Partners acted as the exclusive financial advisor to Krieger Specialty Products for the transaction.
Based in Los Angeles, California, Krieger is a leading U.S. manufacturer of high-performance special purpose doors and windows for industrial, commercial and institutional markets. Krieger’s solutions include security, radio frequency, acoustical, forced entry, bullet, blast and thermal applications. The Company’s products are installed in a wide range of facilities ranging from data centers, hospitals, power plants and government offices to broadcasting stations, theaters, museums and banks.
According to Bob McCluney, Krieger’s owner and CEO, “The alignment of Allegion’s and Krieger's cultures is striking.” Allegion Americas’ Senior Vice President Dave Ilardi stated, “Krieger’s high-quality specialty products will add to the breadth of Allegion’s solutions, while our specification and institutional market expertise will fuel demand creation and growth for Krieger. Our businesses will also create greater manufacturing scale, leveraging our combined talented teams to best serve customers.”
Advising the owner of Krieger Specialty Products, Coil Partners was successful in managing a sell side M&A process that included positioning the Company’s value proposition to industry buyers, leading to the structuring, and negotiating the Company sale to Allegion plc.