The acquisition will enable AmesburyTruth to broaden its commercial product portfolio and further penetrate the commercial market segment. BILCO is a leading supplier of specialty access products for both residential and commercial markets. The terms of the agreement will be effective July 1, 2016 at which time BILCO will become a wholly owned subsidiary of AmesburyTruth.
BILCO will continue to manufacture commercial and residential access products from its existing facilities. The company has a strong presence in North America and select international markets. “BILCO has excellent brand recognition enabling growth for other AmesburyTruth products,” said AmesburyTruth President and CEO Jeff Graby. “BILCO is a very good fit for our business. The products play a critical role in providing solutions for building openings in both the commercial and residential segments enabling AmesburyTruth to play a greater role in providing a total solutions package.”
“We are pleased to be part of a company that has a rich history steeped in innovation,” said Tom Crowley, BILCO’s president. “We see this acquisition as an opportunity to evolve our product portfolio. Customers can expect to receive the same great quality, value, and service. Additionally, our company will have access to best in class business practices designed to streamline our business processes while delivering enhanced value to our customers.”
“We were pleased to find a buyer whose values aligned well with the BILCO brand that our grandfather George Lyons worked so hard to build,” said Robert Lyons Jr., BILCO Chairman and CEO. “AmesburyTruth was the perfect choice as their business has had a long history of satisfying customers, and we believe their culture will help BILCO evolve as a business.”