Caldwell Manufacturing Co. North America LLC today announced it has signed a definitive purchase agreement with B12 Capital Partners LLC to acquire substantially all of the assets of Doors in Motion LLC of Scottsdale, Ariz. Terms of the agreement were not disclosed; however, management anticipates the closing of the transaction to take place prior to the end of the month.
According to Caldwell president and CEO Eric Mertz, the purchase “adds depth and diversity to the company’s offerings and complements its existing line of high-quality sliding window and door hardware. The acquisition further expands our ability to meet the ever-changing demands of the market as well as leverage the economic rebound.”
Doors in Motion was founded in 2001 and provides proprietary residential and light commercial door automation solutions and the fabrication of large multi-panel door systems. Company leadership said today in a statement that customers, employees and venders should not expect any immediate changes.
“With Caldwell products being sold in nearly 60 countries worldwide,” says Mertz, “and more than 125 years of innovation experience combined with our market leading hardware solutions, Caldwell is now further poised to respond to the increased demands of today’s building market in both the U.S. and abroad. We are excited to add Doors in Motion hardware and software solutions to our offering, and I know that Bob Bogle and the Doors in Motion team is equally excited about Caldwell being able to help expedite their product development activities and move the brand aggressively into the global marketplace. ”