BDO acted for Allegion plc on the non-core carve-out of QMI Door Solutions to HLD Group.
QMI is a bespoke manufacturer of high quality timber and steel door solutions for commercial and industrial buildings.
Operating in the gulf region including UAE, Oman, Saudi Arabia, Bahrain, Kuwait and Qatar, QMI has extensive in-house design capabilities and has supplied a number of prestigious projects in the region.
HLD is a UK industrial investment group and will support the next stage of growth for QMI as well providing a number of synergies with its existing businesses in the group.
"BDO provided excellent advice and support throughout our divestiture project and we are pleased with the outcome. The BDO team, with support from their network, had a deep understanding of the sector and potential buyers.
Challenged with a tight timetable, BDO managed the sales process very effectively and considering the company was based in the Middle East, provided a high quality buyer pool. BDO’s professionalism and can-do attitude meant that any obstacles were overcome quickly in this complex carve-out, complicated further by Covid-19 restrictions and we successfully navigated the sale.
Based on our experience, we would have no hesitation in recommending BDO to other companies."
Phil Street, VP Business Development EMEA, Allegion Plc