Blackstone to Buy Chamberlain Group

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Blackstone to Buy Chamberlain Group

The Wall Street Journal2021-09-07

Deal values family-owned maker of garage-door openers at about $5 billion. Blackstone GroupInc.BX-1.52%has agreed to buy the Chamberlain Group LLC in a deal that values the family-owned maker of ...

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dahae
·2021-09-07
????????
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- dahae:
  ????????
  2021-09-07
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- BlueHi5:
  Comment
  2021-09-07
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SirBahamut
·2021-09-07
Lol
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- Abcdefgg:
  K
  2021-09-07
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cammietang90
·2021-09-07
Pls like, thanks
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- tinggie:
  y
  2021-09-08
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BBBBBBBBBB
·2021-09-07
Ok
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- PanaCota:
  ok
  2021-09-07
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- YWC:
  Hi
  2021-09-07
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- Deathminos:
  Yes
  2021-09-07
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JiaocyTi
·2021-09-07
Good
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- JiaocyTi:
  Buy
  2021-09-07
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- AventadorKK:
  yes indeed
  2021-09-07
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The company’s myQ platform lets users control their garage doors and grant access remotely to the dog walker, a repairman or delivery person.\nChamberlain in 2019 launched a partnership withAmazon.comInc.that allows Amazon Prime customers in select cities to have packages securely delivered to their garages.\nChamberlain Group also owns Controlled Products Systems Group, a U.S. wholesale distributor of access-control equipment, such as keyless entry pads and card readers, and loading-dock equipment maker Systems LLC.\nBlackstone plans to invest in expanding Chamberlain’s connected-services business to more commercial and industrial markets, including residential communities, warehouses and loading docks. The private-equity firm, which has embraced a thematic investment style, sees Chamberlain as a beneficiary of both U.S. housing growth and the continued explosion of e-commerce.\n“This is a group that realized connectivity was really important,” said Peter Wallace, head of Blackstone’s core private-equity business. “Even before they figured out how they were going to get paid for it, they decided to WiFi-enable every garage-door opener.”\nThat prescience has enabled a transformation in the 115-year-old company’s business model, one reason Chamberlain is an ideal candidate for Blackstone’s long-hold strategy, he said.\n“We see many facets of growth,” said Chamberlain Group Chief Executive JoAnna Sohovich. “You have new houses being built and people moving out of high-density areas during the pandemic. But people are also replacing working garage-door openers to get the better tech-enabled one.”\nThe Duchossois family’s connection to Chamberlain dates back to 1979, whenThrall Car ManufacturingCo., a railroad-equipment maker of which family patriarch Dick Duchossois was president, bought the company. 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like, thanks&nbsp;","listText":"Pls like, thanks&nbsp;","text":"Pls like, 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