ASSA ABLOY to Acquire Italian High-Security Residential Lock Manufacturer Mottura

ASSA ABLOY to Acquire Italian High-Security Residential Lock Manufacturer Mottura

(IN BRIEF) ASSA ABLOY, a leading Swedish lock and security company, has signed an agreement to acquire Mottura Serrature di sicurezza Spa, an Italian manufacturer of high-security residential armored lock cases and security cylinders. The acquisition will strengthen ASSA ABLOY’s position in the residential space and expand its presence in the Italian market. Mottura, established in 1972, has about 120 employees and reported sales of about MEUR 28 (approx. MSEK 300) in 2022 with a good EBIT margin. The acquisition is expected to be accretive to earnings per share (EPS) from the start and is subject to customary closing conditions, expected to close in the second quarter of 2023.

(PRESS RELEASE) STOCKHOLM, 31-MAR-2023 — /EuropaWire/ — ASSA ABLOY has signed an agreement to acquire Mottura Serrature di sicurezza Spa (“Mottura”), an Italian manufacturer of high security residential armored lock cases and security cylinders.

“We are committed to growing our presence in the Italian market and the acquisition of Mottura provides a great step in strengthening our position in the residential space. I look forward to welcoming Mottura and their employees into the ASSA ABLOY Group,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Mottura and its great team is a fantastic addition to the ASSA ABLOY EMEIA family. Mottura is a great brand that stands for quality, high security and is recognized and respected in Italy and beyond,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division.

Mottura was established in 1972 and has some 120 employees. The main office is located in Sant’Ambrogio di Torino, close to Torino, Italy.

Sales for 2022 amounted to about MEUR 28 (approx. MSEK 300) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

The acquisition is subject to customary closing conditions and is expected to close during the second quarter of 2023.

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 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.

Media 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
e-mail: bjorn.tibell@assaabloy.com

SOURCE: ASSA ABLOY