Overhead Door completes Wayne-Dalton buy

Dallas-based Overhead Door Corp. has completed its purchase of the door and storm-panel operations of Wayne-Dalton Corp., based in southern Ohio. Here we go folks!

The deal creates the largest maker and distributor of residential and commercial overhead doors in North America, with a combined 3,800 employees, 24 manufacturing facilities, 79 regional distribution centers and 2008 revenue of about $1 billion. For now. We’ll see how long it lasts until they start laying off people and closing facilities due to overlap.

Overhead Door, said in a statement the acquisition would enhance the company’s position within the residential and commercial door market and help ensure long-term growth. It also will allow both groups to continue to focus on product innovations that will generate better and feature-rich products for the marketplace. Unlikely.

As part of the integration, the brand identities, product lines and distribution channels of both Overhead Door and Wayne-Dalton will be preserved. We’ll see if that happens. It’s been attempted before and never lasted. Turned out to be a fiasco.

Overhead Door Corporation Reaches Agreement in Principle to Acquire Wayne-Dalton Corp.’s Door Business

Overhead Door Corporation and Wayne-Dalton Corption jointly announced yesterday that they have reached a tentative, non-binding agreement in principle, pursuant to which Overhead Door Corporation would acquire Wayne-Dalton Corp.’s overhead garage door business in North America and Europe.

Under the terms of the tentative agreement, Overhead Door Corporation would acquire substantially all of the assets of Wayne-Dalton Corp.’s commercial and residential overhead door business, as well as their Fabric-Shield storm panel business in a cash transaction. Wayne-Dalton Corp. would retain its garage door opener and wireless home access control businesses and will continue to manufacture, market and sell products of those businesses. The tentative agreement in principle contemplates that Overhead Door Corporation will continue to promote and make available Wayne-Dalton Corp. openers and wireless home access products to Wayne-Dalton Corp.’s current customers. The combined company would create North America’s premier manufacturer and marketer of overhead doors and openers.

The transaction is subject to the negotiation and execution of a definitive agreement and to customary closing conditions, including regulatory and other approvals.