Company in Kuwait changes hands
Dormakaba has sold dormakaba Kuwait to the local management as part of its focus on core markets. Under the new management, the company will operate as Dormatic Kuwait and act as a service partner.
Dormakaba is divesting dormakaba Kuwait for Ready Made Windows LLC. The company, which describes itself as one of the world’s three leading companies in the market for access solutions, announced that the transaction was completed on 19 February 2025.
The buyer is the local management. The parties have agreed not to disclose the financial terms.
According to the press release, the Kuwaiti company will remain in the market and operate as a service partner in the country. Under the new owner, it will operate as Dormatic Kuwait.
The transaction is reportedly in line with dormakaba’s strategic focus on core markets and reducing complexity. At the beginning of January 2025, for example, the company announced that it had also handed over its sub-Saharan African business to local management in the form of the South African company dormakaba South Africa (Pty) Ltd. It too will serve as an exclusive dormakaba partner in the region. Other recent announcements indicate that the locations in Canada and India have been strengthened at the same time.
On 4 February 2025, Dormakaba announced a “significant increase” in reported operating profit compared to the previous year. The half-year results will be published on 25 February 2025.