Arran Isle, the business that owns Mila and Carlisle Brass, was acquired by ASSA ABLOY Limited this autumn.
The transaction is subject to regulatory approval in the UK and Ireland, and customary closing conditions but the deal is expected to complete soon.
Carlisle Brass and Mila will continue to trade from existing locations, with no changes in the foreseeable future to management teams or operational activities.
Arran Isle’s US operations were successfully divested in late 2018 to Patrick Industries, Inc., and the sale of its European businesses completes a journey for Arran Isle’s shareholders that started in June 2013 with an MBO of the group.
Arran Isle’s group board unanimously agreed that ASSA ABLOY is the natural new home for Mila and Carlisle Brass businesses, where they will benefit from the expertise, size and scale that can support their future development.