OTB Eveling has advised the majority shareholder of Lorient Overseas Limited, the associated US business leading designer/manufacturer of high performance door sealing systems Lorient Group, on its cross-border sale to Assa Abbloy, a global supplier of lock and security solutions. The firm acted for shareholder Kentucky Door Edge Products, who became the majority shareholder of the Lorient North America business – based in Lexington, Kentucky – back in 2009 following a management buy-out, in a deal also handled by the firm.
The OTB Eveling team was led by Managing Partner James Eveling, with support from Emma Thomas. James Eveling commented: “We are delighted to have assisted the client on the sale, which for them represents the culmination of a hugely successful period of building the US business of Lorient over a long period of time. Personally, it was really pleasing to have been able to stay with these clients as advisers during their journey since the MBO of the US-arm of the business nearly 10 years ago, a deal I remember well. We wish them the very best for the next chapter of the business under the ownership of global leader Assa Abbloy”.
President of Lorient North America and director of Kentucky Door Edge Products comments:
“James and Emma at OTB Eveling were a pleasure to work with, they delivered value at every stage and their advice and support in delivering the transaction was invaluable. Having them involved since our MBO 10 years ago was a huge help, as they understood our business and the team involved.”