Adams Rite Manufacturing Co. Acquires Three New York-Based Companies: Markar Products Inc., Extrudart Products Inc. and Rockford Products Inc.
POMONA, Calif.--Feb. 11, 2002--New Company to Offer Broader Range of Door and Door Hardware Solutions
to Its Customers
Adams Rite Manufacturing Co., a leading, privately held manufacturer of doors and door hardware products, today announced the acquisition of Markar Products Inc., Extrudart Products Inc. and Rockford Products Inc.
These acquisitions will increase the revenues of Adams Rite by 30 percent and further expand the company's product lines and distribution channels, offering its customers additional top quality products backed by its industry leading customer service. Terms of the acquisitions were not disclosed.
"These acquisitions help fulfill our vision to provide our customers with a comprehensive line of products to meet their needs," said Dick Kreidel, president and chief operating officer, Adams Rite Manufacturing Co.
"A key factor in the decision to acquire these companies is that we share a similar corporate culture and philosophy for quality products and industry leading customer service. An immediate result of the completion of this acquisition is the emergence of Markar Architectural Products Inc., a new company blending Markar Products Inc., Extrudart Products Inc. and Rockford Products Inc. into one entity."
Markar Architectural Products will operate as a wholly owned subsidiary of Adams Rite Manufacturing Co. Kevin Hamilton, former president of the acquired companies, will become president of the newly formed subsidiary, reporting to Kreidel. The new company will maintain its current sites of operations in New York.
The holder of many patents for doors and hinges, Stanley R. Tatara, former owner, chief executive officer and chairman of the board of the acquired companies, will assume the title of director of product development for the new company and will also report directly to Kreidel.
Kreidel added: "With both Kevin Hamilton and Stan Tatara remaining in key strategic positions following the completion of the acquisitions, the new company will benefit from their continued leadership. And, with the return of Stan Tatara to his first love, product design and development, we expect to gain further momentum in the development of innovative products for our customers."
"We are excited to be joining the family of Adams Rite Manufacturing Co.," said Hamilton, president of Markar Architectural Products. "With the breadth of the product lines of these three companies along with those of Adams Rite, we will serve the needs of a greater number of customers, blending several strong independent brands into a much stronger company."
As a result of the acquisition by Adams Rite, Markar Architectural Products will increase its worldwide market penetration by leveraging Adams Rite's strong international distribution channel. In addition, the new company will benefit from Adams Rite's market presence throughout the United States and Adams Rite will enjoy the strong ties of the acquired companies to the contract hardware market segment.
Background on Acquired Companies
Markar Products
Based in Lancaster, N.Y., Markar Products is a manufacturer of continuous hinges and continuous edge guards for use in commercial, industrial and institutional settings. Founded in 1969, the company was the first to manufacture an adjustable continuous hinge and an adjustable continuous edge guard.
To reduce wear and tear to the frame and door, Markar's continuous hinges distribute shock forces applied to doors and are suited for use in entrances of highly trafficked buildings where strength, security, dependability and durability are requirements.
Extrudart Products
Founded more than 45 years ago, Extrudart Products is also located in Lancaster, N.Y. Extrudart's fiberglass reinforced polyester (FRP) doors are the only adjustable doors in the marketplace designed to permit installation up to 3/8-inch width adjustment for aluminum doors and up to 3/4-inch for stainless steel doors.
The FRP doors feature its AdjustaScrew Hinging System and adjustable Lock Edge Fastening System for easy installations in buildings that are subject to the daily rugged abuse of everyday traffic.
Rockford Products
Based in Orchard Park, N.Y., Rockford Products provides a complete line of lite kits, vision grills, astragals, anchors and other door component parts. The company is a leader in providing quality custom grilles and French door vision frames. Founded in 1986, the company provides both standard and custom products to meet the needs of its customers with a focus on prompt delivery.
About Adams Rite
Adams Rite Manufacturing Co. designs, manufactures and markets architectural hardware and doors, as well as vehicular operator controls for off-highway construction and agricultural equipment and on-highway vehicles such as trucks and buses.
Recognized as a leading worldwide supplier of security hardware for aluminum doors, its Architectural Hardware Group is the premier manufacturer of The Rite Door(R), locks, electric strikes, exit devices and other door hardware products. Its Vehicle Controls Group, Quadrastat Corp., is one of the largest suppliers of operator controls to original equipment manufacturers.
The origins of Adams Rite Manufacturing Co. date back more than 100 years, making it one of the most successful, privately held companies in the Los Angeles area. The company's worldwide headquarters are located in Pomona, with wholly owned subsidiaries in the United Kingdom and Hong Kong.
Additional information about Adams Rite Manufacturing Co. can be found on the company's Web site at www.adamsrite.com or about Quadrastat at www.quadrastat.com.