ASSA ABLOY Enhances Its Portfolio with New Acquisition
ASSA ABLOY has taken a significant step forward in its growth strategy by acquiring Wallace & Wallace alongside Wallace Perimeter Security. This strategic move strengthens ASSA ABLOY's existing offerings in the commercial and residential markets. The newly acquired companies specialize in manufacturing, distributing, and installing perimeter fencing as well as door and gate solutions.
Leadership Comments on the Acquisition
Nico Delvaux, the President and CEO of ASSA ABLOY, expressed his enthusiasm regarding the acquisition. He stated, "I am very pleased to welcome Wallace & Wallace into the ASSA ABLOY Group. This acquisition aligns with our strategy to bolster our presence in established markets by adding valuable products that complement our core business."
Enhanced Perimeter Security Portfolio
Massimo Grassi, the Executive Vice President and Head of the Entrance Systems Division, emphasized the advantages of this acquisition: "By acquiring Wallace & Wallace, we are not only enhancing our perimeter security portfolio but also extending our reach in Central Canada. This new addition enables us to offer exciting new products to both existing and potential customers, thereby increasing the value we can deliver."
About Wallace & Wallace
The history of Wallace & Wallace dates back to 1946, and with around 160 employees, the company has established a strong presence in the industry. The main operational hub, including its offices and factory, is situated in Winnipeg. As part of ASSA ABLOY, Wallace & Wallace will operate under the Business Segment Perimeter Security, contributing to the Entrance Systems Division.
Financial Outlook and Projections
Projecting into the future, Wallace & Wallace anticipates sales of approximately MCAD 57 (which translates to about MSEK 440) for the upcoming year, with an impressive EBIT margin supporting strong profitability. The benefits from this acquisition are expected to positively affect earnings per share right from the start.
Contact Information
For further details about ASSA ABLOY and this acquisition, interested parties may reach out to:
Nico Delvaux, President and CEO
Tel: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President
Tel: +46 8 506 485 72
Björn Tibell, Head of Investor Relations
Tel: +46 70 275 67 68
Email: bjorn.tibell@assaabloy.com
About ASSA ABLOY
ASSA ABLOY stands at the forefront of access solutions globally, committed to helping people feel secure and safe every day. With a workforce of 63,000 employees, the company generates an impressive SEK 150 billion in sales. ASSA ABLOY has established leadership in diverse areas including efficient door opening systems, trusted identity solutions, and entrance automation. Their innovations ensure safe, secure, and convenient access to both physical and digital environments.
Frequently Asked Questions
What is the significance of the acquisition of Wallace & Wallace?
The acquisition enhances ASSA ABLOY's perimeter security offerings and strengthens its product portfolio in existing markets.
Who are the key executives involved in this acquisition?
Nico Delvaux, President and CEO, and Massimo Grassi, Executive Vice President, highlighted the strategic importance of this acquisition.
What is the financial outlook for Wallace & Wallace post-acquisition?
Wallace & Wallace anticipates approximately MCAD 57 in sales for the upcoming year, with an expected positive impact on earnings.
What does ASSA ABLOY aim to achieve with this acquisition?
ASSA ABLOY aims to introduce new products to its customer base and strengthen its market position in Central Canada.
How long has Wallace & Wallace been in business?
Wallace & Wallace was founded in 1946 and has built a solid reputation in the perimeter security industry over the decades.