Wayne-Dalton Corp. was officially purchased for more than $14 million by the Dallas-based Overhead Door Corp. and its parent company, Sanwa Holdings Corporation in Tokyo. The change in ownership will not mean any current changes in the products produced, the location of the factory or the number of employees working for Wayne Dalton.
Overhead Door announced Sept. 2 that it had reached an agreement with Wayne-Dalton to purchase the company. The deal was approved by regulators Dec. 7.
According to information from the Holmes County Auditor’s office, the facilities, property and holdings of Wayne Dalton sold for $14.3 million. Under the agreement, Wayne-Dalton will remain a separate brand and the facility in Mount Hope will continue operating.
Overhead Door began selling garage doors in 1921 and sold the first electric door opener in 1926. The company has 19 manufacturing facilities in the United States and the United Kingdom. Its parent company, Sanwa Holdings, was established in 1956 as a shutter manufacturer.