ASSA ABLOY Expands Portfolio with Acquistion of Pedestal PRO
ASSA ABLOY's Strategic Acquisition
ASSA ABLOY has successfully acquired Pedestal PRO, a notable manufacturer specializing in access control pedestals, bollards, and advanced mounting solutions. This acquisition is a part of ASSA ABLOY’s strategy to fortify its market position by integrating complementary products into their portfolio.
Leadership Insights
Nico Delvaux, President and CEO of ASSA ABLOY, expressed his enthusiasm about this acquisition. He stated, "I am very pleased to welcome Pedestal PRO into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business." His excitement reflects ASSA ABLOY's commitment to growth and innovation through strategic partnerships.
Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division, echoed these sentiments. He remarked, "Pedestal PRO is an established innovator that seamlessly integrates design, architectural elements, and access control technology. I am thrilled for them to join ASSA ABLOY." According to Boselli, the integration of Pedestal PRO's offerings strengthens ASSA ABLOY’s position as a trusted partner for access control equipment manufacturers, system integrators, and security professionals.
About Pedestal PRO
Founded in 2002, Pedestal PRO has grown into an established company employing approximately 50 people. Their main operations are based in Lindon, Utah. The company has seen significant sales, with estimates for 2024 projected to reach around MUSD 11, equating to roughly MSEK 120. This robust financial performance includes a promising EBIT margin. As a testament to the acquisition's potential, it is expected to positively impact earnings per share (EPS) from the outset.
Contact Information
For those seeking further details about the acquisition or ASSA ABLOY's plans moving forward, you can reach out to the following 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
About ASSA ABLOY
ASSA ABLOY is recognized globally as a leader in access solutions. Their mission is to enhance safety and security, enabling people to experience a more open world. With a workforce of 63,000 employees and annual sales reaching SEK 150 billion, ASSA ABLOY holds strong positions in various sectors such as efficient door openings and identity solutions. The innovations they develop provide safe, secure, and convenient access to both physical and digital spaces.
Frequently Asked Questions
What is the significance of ASSA ABLOY acquiring Pedestal PRO?
This acquisition strengthens ASSA ABLOY's portfolio by incorporating complementary products, enhancing their offerings in the access control market.
Who is the CEO of ASSA ABLOY?
Nico Delvaux is the President and CEO of ASSA ABLOY, overseeing the company's strategic directions.
When was Pedestal PRO founded?
Pedestal PRO was founded in 2002 and has since developed a robust line of access control products.
Where are Pedestal PRO's main operations located?
Pedestal PRO operates primarily out of Lindon, Utah, with a dedicated workforce of approximately 50 employees.
What financial impact will the acquisition have?
The acquisition is expected to be accretive to EPS from the start, reflecting strong sales potential and positive EBIT margins.
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