Mila set for sale to Assa Abloy
Assa Abloy is set to acquire Arran Isle Group, which includes the brands Mila and Carlisle Brass.
Assa Abloy already owns the Yale brand.
Since the transaction will likely be subject to regulatory approval in the UK and Ireland, and customary closing conditions, the deal isn’t expected to complete until early 2022.
According to the press release, the Mila and Carlisle Brass businesses are complementary to Assa Abloy’s existing operations and “will enable them to offer a wider range of distinctive, high value adding door and window hardware to manufacturers, as well as to the growing remedial and home improvement sector”.
Carlisle Brass and Mila will continue to trade from existing locations, with no planned changes to management teams or operational activities.
Mila’s maintenance business unit, based in Barnsley will become part of Assa Abloy’s commercial construction and maintenance sector.
Arran Isle’s US operations were successfully divested in late 2018 to Patrick Industries, and the sale of its European businesses completes a journey for Arran Isle’s shareholders that started in June 2013 with an MBO of the group.