MAG Capital Partners, LLC, has purchased the Sargent & Greenleaf headquarters facility at One Security Drive in Nicholasville, Kentucky, in a sale-leaseback transaction with OpenGate Capital.
S&G was acquired in May of 2019 by Los Angeles-based OpenGate Capital, a private equity firm specializing in middle-market businesses. In January of 2020, the company made a platform add-on acquisition of the Delaney Hardware Company, a specialty manufacturer of security doors and frames, to drive scale and broaden its security hardware solutions.
Situated on 40.9 acres, the 112,400-square-foot property comprises 90,000 square feet of manufacturing space with 22-foot clear ceiling height and 22,400 square feet of office space.
One Security Drive is located in the greater Lexington, Kentucky, metropolitan area, which has enjoyed a lower unemployment rate than the national average. Other recent boosts to the local economy include e-commerce giant Amazon launching its new state-of-the-art delivery station in the metro that will employ hundreds of workers and Toyota’s recent announcement to invest $461 million in upgrades at its nearby Georgetown facility.
Founded in 1857, S&G is a leading manufacturer of high-quality security lock industry serving a diversified, international customer base in banking, cash transit, residential security, railroad/utilities and government security segments.
Nick Foster with JLL’s Newport Beach, Calif., office represented MAG Capital Partners. Terms of the sale were undisclosed.
