BDO advises on sale of specialist door manufacturer

BDO LLP has advised on the sale of specialist door manufacturer, Sunray Engineering Group Limited.

The Midlands Corporate Finance team acted as M&A adviser to Sunray Engineering, which has been acquired for an undisclosed sum by Swedish listed global building products group, ASSA ABLOY. ASSA ABLOY employs 52,000 employees worldwide, with its UK headquarters based in Willenhall, West Midlands.

The BDO team was John Stephan, Matt Goodliffe, Will Ashley, and Elle Oldham.

John Stephan (pictured), partner and head of global M&A at BDO, said: “Sunray is a highly profitable designer and manufacturer of high specification doors and attracted significant interest from trade and private equity buyers during the sales process.

Matt Goodliffe, director at BDO, added: “The company's specialist expertise and longstanding reputation in the building products sector made it a natural strategic fit for ASSA ABLOY - an ambitious international group looking to extend its footprint in the UK and EMEIA markets.

“This sale should build on the legacy of a business that has carved out a real niche in the sector for over 40 years.”

The Ashford-based company, which was established in 1980, designs and manufactures high specification steel and timber security doors, fire doors and louvre systems.

Sean Ballard, managing director, Sunray Engineering Group Limited, said: “As an established and successful business, the consideration of our board and shareholders on how and where to look at exit options was in itself made easy by our initial contact with BDO.

“They offered a truly consultative, informative and non-pressured outline on possibilities followed by meeting the highly experienced team who guided us from concepts to forming a planned way forward to suit what we wanted to achieve.”

Neil Vann, executive vice president of ASSA ABLOY and head of the EMEIA Division, added: “With Sunray Engineering and its great team, we want to develop our presence within the high specification doors and louvre systems markets.

“Sunray Engineering has a long and successful history in the UK, making it a fantastic opportunity to help us realise our growth ambitions and expand our full door specification offering.”