Overhead Door Corporation, which invented the first “upward-acting door” in 1921 and the first electric garage door opener in 1925, is carrying on its long history of pioneering with the acquisition of Won-Door Corporation this week.
The acquisition will expand Overhead Door Corporation’s leadership in innovative pedestrian access solutions, the company said. Won-Door will continue operations under the existing brand, becoming a part of a strategic business unit all with Horton Automatics.
Won-Door Corporation, a market leader in accordion style fire and security door solutions, is known for its own innovations in life and property-saving products. Hidden from view until automatically deployed, its wide-opening fire and security access solutions are a popular choice for architects and building owners alike, according to a news release. All Posts
Headquartered in Lewisville, Overhead Door has three divisions with a focus on vehicular, pedestrian, and electronic access solutions. is a A subsidiary of Toyko-based Sanway Holdings Corp., it manufactures garage door and other access solutions for some of the most trusted brands in North America including Overhead Door, Wayne Dalton, Genie, Horton Automatics, and TODCO, the company says.
“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,” said Kelly Terry, Overhead Door Corporation president and CEO, in a statement.
The acquisition of Won-Door addresses the company’s purpose to create safe and secure access for generations, Terry says.
Terry see collaboration ahead for the brands and plans to leverage the strengths of the company, as well as its distribution partners, to accelerate the adoption of Won-Door’s innovative pedestrian access solutions. As the Won-Door team onboards, “we are committed to preserving the unique strengths that make them successful,” he says.
Won-Door Chairman and CEO Ron Smart believes the deal will have “numerous long-term benefits for our employees and customers.” The companies combined efforts “will create a strong platform for growth and extend our leadership position in the market,” he said in a statement.
Founded in 1962 in Utah, Won-Door began with work on a two-track folding partition. That door was considered so revolutionary, it led a customer to suggest the company name, Won-Door, “because this door is truly WONDERFUL,” according to the company’s website. Today, Won-Door’s accordion-style folding doors offer innovative fire, security, and acoustic doors for elevator lobby, occupancy separation, and smoke control.
Financial terms of the deal were not disclosed. Deloitte Corporate Finance acted #as the exclusive financial advisor to Won-Door Corporation.
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