ASSA ABLOY Expands Portfolio with Acquisition of Premier Steel
ASSA ABLOY Acquires Premier Steel Doors and Frames
ASSA ABLOY has successfully completed the acquisition of Premier Steel Doors and Frames, a notable manufacturer specializing in hollow metal doors and frames, as well as metal building door systems and aluminum windows. This acquisition represents a significant step for ASSA ABLOY to enhance its portfolio and strengthen its position in mature markets.
Strategic Growth for ASSA ABLOY
Nico Delvaux, the President and CEO of ASSA ABLOY, expressed his enthusiasm regarding this strategic acquisition. He emphasized how integrating Premier into the ASSA ABLOY Group aligns with the company's goal of enhancing its product offerings to meet the needs of mature markets. Such synergies are vital for maintaining a competitive advantage.
Enhanced Product Offerings
Lucas Boselli, APP's Executive Vice President and Head of the Americas Division, noted that Premier is a highly respected entity known for its expertise in steel door and frame manufacturing. He anticipates that the acquisition will complement ASSA ABLOY’s existing product lines and expand their market reach, particularly in the southern regions of the United States. This move is expected to bolster their overall capabilities in delivering effective solutions for metal buildings.
The Legacy of Premier Steel
Founded in 1964, Premier has established itself as a reputable manufacturer within the industry, employing approximately 90 skilled individuals. With a strong focus on producing high-quality products, the company has achieved notable sales for the year 2023, amounting to around 40 million USD with a commendable EBIT margin. The acquisition is poised to immediately enhance ASSA ABLOY’s earnings per share.
About ASSA ABLOY
The ASSA ABLOY Group stands tall as a global leader in access solutions, employing over 61,000 individuals and achieving sales of 141 billion SEK. This remarkable organization holds prominent positions in diverse fields such as efficient door openings, trusted identities, and entrance automation. With innovative technologies and solutions at its forefront, ASSA ABLOY aims to provide secure and convenient access to various physical and digital spaces, transforming how billions experience an open world each day.
Frequently Asked Questions
What did ASSA ABLOY acquire?
ASSA ABLOY acquired Premier Steel Doors and Frames, a manufacturer specializing in hollow metal doors and frames.
What impact will the acquisition have?
The acquisition will enhance ASSA ABLOY’s product portfolio, particularly in the southern US, and improve their capabilities in providing solutions for metal buildings.
When was Premier founded?
Premier was founded in 1964 and has grown to become a respected entity in the steel door manufacturing industry.
How many employees does Premier have?
Premier employs about 90 individuals, contributing to its strong performance and reputation in the market.
What is ASSA ABLOY's mission?
ASSA ABLOY aims to provide secure, safe, and convenient access solutions to both physical and digital spaces.
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