Sargent and Greenleaf (S&G), a manufacturer of mechanical and electronic locks, announced Jan. 30 that OpenGate Capital, a global private equity firm, entered into an agreement to acquire S&G from Stanley Black & Decker.  The transaction is anticipated to be completed in the first quarter of 2019. Financial terms were not disclosed.

Established in 2005, OpenGate Capital specializes in the acquisition and operation of businesses to create new value through operational improvement, innovation and growth. Leaders within both companies will work closely to leverage resources to support S&G’s mission to grow and create sustainable long-term value, according to a press release issued by S&G. S&G will transition into a stand-alone business under the ownership of OpenGate Capital.