ASSA ABLOY’s South African Security Market Footprint Expands with Amecor Deal

ASSA ABLOY’s South African Security Market Footprint Expands with Amecor Deal

(IN BRIEF) ASSA ABLOY, a global security solutions provider, is set to acquire Amecor (Pty) Ltd, a South African manufacturer specializing in security communication equipment. The acquisition aims to strengthen ASSA ABLOY’s presence in the South African security market and enhance its electronic security solutions business. Amecor, with a 30-year history in the sector, will bolster ASSA ABLOY’s commitment to the South African and Sub-Saharan markets. The acquisition, subject to regulatory approval, is expected to close in the second quarter of 2024 and is projected to have a positive impact on earnings per share (EPS).

(PRESS RELEASE) STOCKHOLM, 23-Jan-2024 — /EuropaWire/ — Assa Abloy AB (STO: ASSA-B), leader in locks, doors, gates, and entrance automation, has announced the signing of an agreement to acquire Amecor (Pty) Ltd, a prominent South African manufacturer specializing in security communication equipment for the South African security market.

Nico Delvaux, President and CEO of ASSA ABLOY, expressed his satisfaction with the acquisition, stating, “I am very pleased to welcome Amecor into the ASSA ABLOY Group. This constitutes a next step in our strategy to further strengthen our position in this important market.”

Amecor boasts a rich 30-year history in the South African security sector, offering a range of reliable and cutting-edge products in the alarm segment. This strategic move reinforces ASSA ABLOY’s enduring commitment to both the South African and Sub-Saharan markets. Neil Vann, Executive Vice President of ASSA ABLOY and Head of the EMEIA Division, highlighted the synergies between Amecor’s offerings and ASSA ABLOY’s electronic security solutions, stating “The Amecor team has a 30-year history in the South African security sector with a suite of reliable and leading products in the alarm segment. Amecor will reinforce our long-term commitment to the South African and Sub-Saharan markets and there are numerous synergies with our electronic security solutions business, that will add great benefit to our customers.”

Established in 1994, Amecor currently employs approximately 120 individuals, with its main office and manufacturing facility located in Johannesburg, South Africa. In 2022, the company reported sales of around MZAR 270 (approximately MSEK 170) with a robust EBIT-margin. The acquisition is anticipated to contribute positively to earnings per share (EPS) from the outset.

The completion of the acquisition is contingent upon regulatory approval and customary closing conditions, with the expected closing date slated for the second quarter of 2024.

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

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.

SOURCE: ASSA ABLOY