Overhead Door Corporation Announces the Purchase of Won-Door Corporation
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DALLAS, April 1, 2021 /PRNewswire/ -- Overhead Door Corporation, a leading provider of door and access solutions, has acquired Won-Door Corporation, effective this week. Won-Door Corporation is the market leader in accordion style fire and security door solutions.
Won-Door's innovative, life and property-saving products are installed hidden from view until automatically deployed when needed, making them an attractive, wide-opening fire and security solution for architects and building owners alike. Continuing operations under its existing brand, Won-Door will become part of a strategic business unit with Horton Automatics and will expand Overhead Door Corporation's leadership in innovative pedestrian access solutions.
"This combination addresses our purpose: Creating Safe and Secure Access for Generations", said Kelly Terry, Overhead Door Corporation President and Chief Executive Officer. "The addition of Won-Door to the Overhead Door Corporation family enhances our pedestrian access solutions, specifically in fire and security, while expanding our addressable market."
Mr. Terry added, "The acquisition allows us to leverage the strengths of our company and distribution partners to accelerate the adoption of Won-Door's innovative pedestrian access solutions. As we bring team Won-Door aboard, we are committed to preserving the unique strengths that make them successful and we are excited about the opportunity to collaborate across brands for the benefit of our combined team and customer base."
Ron Smart, Chairman and Chief Executive Officer of Won-Door Corporation, stated, "We firmly believe this deal with Overhead Door Corporation will provide numerous long-term benefits for our employees and customers. Overhead Door Corporation is committed to continued investment in our business, and our combined efforts will create a strong platform for growth and extend our leadership position in the market."
About Won-Door CorporationFor more than 50 years, WON-DOOR CORPORATION has designed, developed, manufactured, and installed accordion-style folding doors. The Company offers fire, security, and acoustic doors for elevator lobby, occupancy separation, and smoke control and leads the industry in product innovation.
Today, WON-DOOR CORPORATION products are universally accepted as meeting both fire and building code regulations in virtually any application and are installed in a multitude of building types in North and South America as well as Asia, Europe, and the Middle East. Deloitte Corporate Finance LLC acted as the exclusive financial advisor to Won-Door Corporation.
About Overhead Door CorporationOVERHEAD DOOR CORPORATION, based in Lewisville, Texas, is a leading provider of door and access solutions for residential, commercial, institutional, and industrial applications. Operating through three divisions with focus on vehicular, pedestrian, and electronic access solutions, OVERHEAD DOOR CORPORATION serves more than 6,000 industry-leading professional distribution partners.
An industry pioneer that invented the first upward-acting door in 1921, the first electric garage door opener in 1926, and the first automatic sliding door in 1954, the company manufactures door and access solutions under some of the most trusted brands in North America including Overhead Door, Wayne Dalton, Genie, Horton Automatics, and TODCO.
Overhead Door Corporation is a subsidiary of Sanwa Holdings Corporation of Tokyo, Japan. For additional information, visit https://ohdcorporation.com.
SOURCE Overhead Door Corporation
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