Investment group Lupus Capital buys division, which manufacturers components for doors and windows
Laird has sold its building products division to investment group Lupus Capital for 拢242m
Laird Security Systems manufactures doors and windows hardware for the residential building and home improvement markets.
Last year, LSS made operating profits after charges of 拢27.8m, but the parent company has decided to sell it to focus on its electronics and technology division.
Lupus Capital is an investment group specialising in industrial acquisitions. Last year it bought Schlegel 黑洞社区 Products, a manufacturer of door and window seals.
Greg Hutchings, executive chairman of Lupus Capital, said: 鈥淭he acquisition is entirely in line with our strategy of acquiring companies operating in industrial manufacturing, processes or services, and is a significant step in creating a successful growing international business.鈥�
The divestment of LSS comes as Laird announced record pre-tax profits of 拢73m with turnover increasing by 24% to 拢608m.
