dormakaba has signed an agreement to acquire the Australian Reliance Doors and Best Doors Australia Groups (RELBDA), an Australian provider of residential garage doors, automatic openers, industrial overhead doors as well as related services. RELBDA operates with well-known brands such as Gliderol, ezi-roll, Danmar and Best Doors, and has over 300 employees offering solutions and services to all market verticals from private homes to hospitals, airports, logistics companies, hotels, and more. RELBDA has manufacturing sites located in Brisbane, Sydney, Melbourne, and Adelaide which service local markets for Gliderol doors and ezi-roll industrial shutters. Best Doors is a reseller network with branches in eastern and southern Australia.
With this strategic acquisition, dormakaba further strengthens its business in Asia-Pacific (APAC), enabling growth by expanding its position in the Australian door automation and residential market and by leveraging the related service opportunities.
In financial year 2020/21, RELBDA generated sales of about CHF 54 million. The parties have agreed to not disclose further financial details of the transaction, which dormakaba expects to be accretive to Group EPS and EBITDA margin from day 1. Closing of the transaction is expected in the ongoing first quarter of financial year 2021/22.
Sabrina Soussan, CEO dormakaba Group, commented: “RELBDA and its strong brands is a sound addition to our Australian business and will help our AS APAC management team under the leadership of Jim-Heng Lee to further drive our ambitious growth strategy in Asia-Pacific. It allows us to further diversify and develop our offering in the existing industrial door automation business by combining their industrial door solutions with our growing services business. In addition, we have the opportunity to expand into the residential sector by integrating our products to residential solutions for a seamless home access.”
Nicholas Storen on behalf of the RELBDA shareholders and management added: “dormakaba is an outstanding cultural fit and will continue to foster our core strategy pillars of growth, customer experience, our people and innovation. We are very excited to join the dormakaba family which will add tremendous value to our customers and their evolving demand for technological advancements in access control.”