OpenGate Capital acquired Sargent and Greenleaf from Stanley Black & Decker.

OpenGate Capital acquired Sargent and Greenleaf, which manufactures mechanical and electronic locks for safes, vaults, and safe deposit boxes, from Stanley Black & Decker. The transaction marks the third investment completed in May through OpenGate Capital’s second institutional fund. Financial terms were not disclosed. Andrew Nikou, OpenGate Capital’s founder and CEO, commented, “The acquisition of S&G from Stanley Black & Decker is an important investment for our firm. The S&G business is well-suited for our newly launched OGx capability that will drive innovation into the business through technological enhancements as part of our full potential operational strategy. Secondly, the investment represents our strength in partnering with corporations divesting non-core assets. Since 2005 we have been a trusted strategic partner for many of the world’s leading corporations and we’re proud to have the confidence of Stanley Black & Decker to drive the next era of growth for S&G.”