Assa Abloy acquires leading door and window hardware company in UK and Ireland

Assa Abloy acquires leading door and window hardware company in UK and Ireland

(PRESS RELEASE) STOCKHOLM, 27-Sep-2021 — /EuropaWire/ — Assa Abloy AB (STO: ASSA-B), leader in locks, doors, gates, and entrance automation, has announced the acquisition of Arran Isle, a leading designer, manufacturer and distributor of door and window hardware in the UK and Ireland.

“I look forward to welcoming Arran Isle into the ASSA ABLOY Group. This acquisition delivers on our strategy to add complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Arran Isle is an excellent addition to our business and in particular EMEIA’s UK and Ireland market region. The acquisition brings well-known architectural and fenestration hardware brands to our portfolio. Arran Isle have built a reputation developing innovative products and a market leading approach to customer service with a passionate and experienced team,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division.

Arran Isle has some 560 employees and was established in 1971. The company has manufacturing and distribution sites in the UK, Ireland, Europe and China.

Sales for 2020 amounted to about MGBP 100 (approx. MSEK 1,200). The acquisition will be accretive to EPS from the start.

The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the fourth quarter of 2021.

For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68

About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 48,000 employees and sales of SEK 88 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

SOURCE: ASSA ABLOY

EDITOR'S PICK:

Comments are closed.