ASSA ABLOY Expands Global Security Portfolio with Acquisition of Canadian Legacy Brand Wallace & Wallace

ASSA ABLOY Expands Global Security Portfolio with Acquisition of Canadian Legacy Brand Wallace & Wallace

(IN BRIEF) ASSA ABLOY has acquired Canadian company Wallace & Wallace, along with Wallace Perimeter Security, to expand its Perimeter Security portfolio and strengthen its position in mature markets. The acquisition, which integrates a firm renowned for its perimeter fencing, door, and gate solutions in both commercial and residential sectors, will enhance ASSA ABLOY’s product offerings and presence in Central Canada. Company leaders Nico Delvaux and Massimo Grassi expressed confidence that the deal will create significant value for customers and be immediately accretive to earnings per share. Wallace & Wallace, established in 1946 in Winnipeg with robust financial performance in 2024, will now operate under ASSA ABLOY’s Entrance Systems Division.

(PRESS RELEASE) STOCKHOLM, 5-Mar-2025 — /EuropaWire/ — In a strategic move to bolster its foothold in mature markets, ASSA ABLOY has completed the acquisition of Wallace & Wallace and Wallace Perimeter Security, a Canadian company specializing in the manufacturing, distribution, and installation of perimeter fencing, doors, and gate solutions for both commercial and residential sectors.

The deal, which reinforces ASSA ABLOY’s commitment to expanding its product portfolio, is expected to enhance the company’s Perimeter Security offerings significantly. Nico Delvaux, President and CEO of ASSA ABLOY, expressed his enthusiasm: “I am very pleased to welcome Wallace & Wallace into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets by adding complementary products and solutions to our core business.”

Adding to the positive sentiment, Massimo Grassi, Executive Vice President and Head of the Entrance Systems Division, noted, “By acquiring Wallace & Wallace, we are enhancing and complementing our Perimeter Security portfolio. This acquisition enables us to introduce new products to our existing and new customers while further strengthening our presence in Central Canada. We are excited about the opportunities this brings and are confident in the value it will create for our customers.”

Established in 1946 and based in Winnipeg, Manitoba, Wallace & Wallace employs approximately 160 people. Its robust performance is highlighted by 2024 sales reaching around MCAD 57 (approximately MSEK 440) and a strong EBIT margin. Under the new arrangement, Wallace & Wallace will join the Business Segment Perimeter Security within the Entrance Systems Division, and the acquisition is expected to be immediately accretive to earnings per share.

This acquisition not only expands ASSA ABLOY’s global reach but also enriches its product line with a legacy brand known for quality and reliability in the security market.

About ASSA ABLOY

ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. We operate worldwide with 63,000 employees and sales of SEK 150 billion, with leading positions in areas such as efficient door openings, trusted identities and entrance automation. Our innovations enable safe, secure and convenient access to physical and digital places.

Media Contacts:

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
e-mail: bjorn.tibell@assaabloy.com

SOURCE: ASSA ABLOY