ASSA ABLOY has acquired Securistyle Group Holdings Limited in the UK. Securistyle specializes in window hardware and its product offering includes high performance friction hinges, handles and window locks.
"I am very pleased to welcome Securistyle into the ASSA ABLOY Group," says Johan Molin, President and CEO of ASSA ABLOY. "This acquisition strengthens our position in the UK, as part of our strategy to add complementary products and segments to our offering in the mature markets."
"Securistyle is an exciting addition to ASSA ABLOY UK and to EMEA as a whole," says Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA Division. "Securistyle will give us access to the important market of window hardware and locks which is complementary to our UK multipoint locks business, and will bring us a very experienced team."
Securistyle was established in 1978 and it is based in Cheltenham, UK. The company employs 205 people. 75% of the products are sold in the UK, while the remainder is sold in various export markets.
Sales are expected to reach GBP 21 M in 2012. The acquisition is EPS accretive from start.
The deal was closed simultaneously with signing on January 27, 2012.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Tomas Eliasson, CFO and Executive Vice President, tel no: +46 8 506 485 72
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: ASSA ABLOY via Thomson Reuters ONE
