Tyman Closes Truth Acquisition
Tyman plc, the British parent of Amesbury, has completed the previously announced acquisition of Truth Hardware from Melrose Industries plc. The transaction brings together Truth, a leading supplier of hardware to the North American window and door market, with Amesbury, an international supplier to the fenestration market, producing hardware, weatherseals and extruded products.
"Combining Amesbury and Truth creates an organization with an extensive product portfolio and global reach," says Jonathan Petromelis, Amesbury president and CEO. “Our priority and endeavor as an integrated organization will be to provide customers within the fenestration market even greater opportunity to seek engineered solutions.”
“At Truth Hardware we are very excited about working with Amesbury," adds Jeff Graby, Truth president and CEO. "Combined, our position of strength and the ability to offer our customers 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, officials note. 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, providing 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.