SEADAN Security Electronics & Sprint has been acquired by MML for an undisclosed sum, with ownership transitioning on August 1.
According to Seadan Security Electronics & Sprint’s co-managing director, Trevor Harris, there will be no change to the business in the wake of the acquisition, with all branches, personnel, distribution and account arrangements remaining the same.
“Ian (Harris) and I have a contract to remain with the business for a further 2 years to assist with the transition – we certainly see opportunities in this acquisition for MML and for the Seadan Security Electronics & Sprint team.”
Metal Manufactures Limited was founded in New South Wales in 1916 and from small beginnings at Port Kembla has developed into a diversified business.
MML’s subsidiaries include MM Electrical Merchandising, a large trade wholesale distribution business in Australia, with 1600 staff, 250 outlets and a turnover over $A1.4 billion. The MMEM Group trades under the business names of MM Electrical, AWM Electrical, TLE Electrical, D&W Electrical and Haymans Electrical.
Harris said he had mixed feelings about the acquisition.
“I’m happy and I’m sad,” he said. “The business has been our baby for many years but now it’s time for Seadan Security Electronics & Sprint to go in another direction. We have great relationships with suppliers, other distributors, customers and we have many happy memories.”
Meanwhile, co-MD Ian Harris said he was looking forward to the transition.
“The local MML team is a great bunch of people,” he said. “This acquisition will open up many opportunities for both businesses.”