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OpenGate's Sargent and Greenleaf buys Delaney from HCI Equity


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OpenGate's Sargent and Greenleaf buys Delaney from HCI Equity

OpenGate Capital LLC's portfolio company Sargent and Greenleaf Inc. acquired security related hardware maker Delaney Hardware Co. from HCI Equity Partners.

Terms of the deal were not disclosed.

The transaction also includes Delaney's unit Premier Steel Doors & Frames, which operates in Monroe, La.; Austell, Ga.; and Houston.

Cumming, Ga.-based Delaney designs and produces security related hardware, locksets and hollow metal doors for residential and commercial uses across the U.S.

Sargent and Greenleaf, or S&G, and Delaney's integration and growth plan will be led by S&G CEO Mark LeMire. Libby Zappala and Joey Meggs, president of Delaney and Premier, respectively, will remain in their positions.

The combined business will look for more add-on acquisitions, according to a statement.