Spectrum Brands Holdings Inc. (NYSE: SPB) has acquired Tell Manufacturing Inc. in the latest building products deal.
Tell Manufacturing, headquartered in Lititz, Pennsylvania, makes commercial doors, locks and hardware, The company has annual revenues of about $40 million. Terms of the acquisition were not disclosed.
Spectrum is making the purchase through its hardware and home improvement group. The company is a consumer products group, headquartered in Middleton, Wisconsin, which sells products under the Baldwin, Remington, George Forman, Black & Decker, National Hardware and other brands. The company bought the hardware business of Stanley Black & Decker Inc. (NYSE: SWK) for $1.4 billion in October 2012.
The buyer says the deal should help speed up the hardware and home improvement group's entry into the U.S. commercial door hardware and lock market. The deal is expected to close by the end of October.
Other recent building products deals include Ridgemont Equity Partners' deal for the Cook & Boardman Group earlier in September, and Trive Capital's investment in Lark Industries Inc., also in September.