Ennepetal, Germany. In line with it´s 2020 goal to provide premium access and service solutions enabling better buildings, DORMA has entered into an agreement to acquire a 40 percent interest in the family-owned Italian company ISEO. The share purchase extends the range of locking cylinders, master key systems, locks and panic hardware available within the DORMA portfolio. These additional product lines mean that DORMA is able to offer an even greater range of integrated architectural hardware and premium access solutions.
“ISEO has long been a strategic partner of DORMA – hence we are fully aware of the company’s high technological standards, which are fully in line with our re-quirements as a premium product supplier,” commented Michael Tritschel, Vice President Group Business Development. “And we intend to work even closer together on innovations and further developments as we further intertwine”.
In future, DORMA will occupy 2 of 6 seats on the ISEO board of directors and the two companies will be pursuing a joint strategy, the objectives of which are to be formally defined in a contract of strategic cooperation.
“This strategic agreement became reality thanks to common views and similar attitude on the markets for both groups, which are family-owned and mid-term oriented, and our new group cooperation is reinforced by human relation and personal understanding and not only economic industrial and financial”, said Evaristo Facchinetti, Chairman and Majority Shareholder of ISEO.
“Just like DORMA, ISEO is a family-owned company with a long tradition and strong roots in its home market. But also just like us, it now generates the greater part of its sales revenue abroad,” stated DORMA CEO, Thomas P. Wagner. “But this is much more than just a cultural match – through our collaboration with ISEO we will be able to enhance the competitiveness of our product portfolio while also benefiting from the new and innovative ideas that this alliance will doubtless be able to provide.”
Moreover, it is not just ISEO’s product know-how that is likely to further boost DORMA’s operations. This investment also increases DORMA’s presence in strategically important markets, given that ISEO has a major sales network in both Italy and France.
Headquartered in Pisogne in the north of Italy, ISEO employs around 800 people and in its last financial year generated sales amounting to 113 million euros. DORMA’s purchase of the ISEO shares was signed on October 16, 2012, with closing subject to merger control clearance.
Ennepetal, October 18, 2012
DORMA offers high quality as a global partner for premium access solutions and services – conceived and designed to make buildings better. With more than 100 years of tradition behind it, DORMA has developed in revenue terms into the world market leader in door controls, movable walls and glass fittings and accessories. In the automatics segment too, the company is a member of the world elite. DORMA is also a successful player in the security, time management and access control segment and the number one in Germany for emergency exit control and escape route security systems. DORMA maintains major production plants in Europe, Singapore, Malaysia, China and North and South America. With an international workforce of around 6,600 employees, the Group realised sales of €1 billion in fiscal 2011/12 (June 30). Headquartered in Ennepetal, Germany, the DORMA Group operates on an international scale with companies in more than 50 different countries.
ISEO group is a leading Italian family-run business. The company was founded in 1969 and, since when, it has successfully been designing, manufacturing and selling smart access management systems for people’s safety and anti-intrusion security. The headquarters, ISEO Serrature, is in Pisogne, on ISEO lake, Northern Italy. The Group currently employs 800 staff, 50% of which in Italy. In 2011 the turnover reached 113 Million Euros. Strongly oriented towards the global market, ISEO group has widely spread at an international level thanks to a strategy based on the creation and acquisition of local subsidiaries. ISEO has established trade companies in Dubai, Beijing, Spain and South Africa, and has created and taken over production sites in Italy, France, Germany and Spain.