ASSA ABLOY Expands Access Solutions with Pedestal PRO Purchase
ASSA ABLOY Acquires Pedestal PRO
ASSA ABLOY has made a significant move in the access solutions market by acquiring Pedestal PRO, a renowned manufacturer in the United States. This acquisition is a strategic step aimed at reinforcing ASSA ABLOY’s presence in established markets by integrating complementary products and solutions.
Insights from the Leadership
Nico Delvaux, the President and CEO of ASSA ABLOY, expressed his enthusiasm regarding the acquisition, stating, “I am very pleased to welcome Pedestal PRO into the ASSA ABLOY Group.” He emphasized that this acquisition aligns with their strategy to enhance their core offerings.
Furthermore, Lucas Boselli, Executive Vice President and head of the Americas Division, noted, “Pedestal PRO seamlessly integrates design, architectural elements, and cutting-edge access control technology.” He believes this partnership will enrich their product portfolio, positioning ASSA ABLOY as a preferred partner in the access control sector.
About Pedestal PRO
Pedestal PRO, founded in 2002, has established itself as a leading innovator with a focus on access control pedestals and innovative mounting solutions. With around 50 employees, their main office and manufacturing facility are based in Utah. The company’s expertise and innovation in combining design with technology make it an invaluable addition to ASSA ABLOY.
Financial Impact of the Acquisition
The acquisition is expected to have a positive financial impact, with sales projections for Pedestal PRO reaching approximately MUSD 11 for the upcoming fiscal year. This translates to around MSEK 120, with a promising EBIT margin. Notably, the addition of Pedestal PRO’s resources is set to contribute positively to ASSA ABLOY’s earnings per share from the outset.
Contact Information
For further inquiries, individuals can reach out to Nico Delvaux, President and CEO, at +46 8 506 485 82, or Erik Pieder, CFO and Executive Vice President, at +46 8 506 485 72. Additionally, Björn Tibell, Head of Investor Relations, is available at +46 70 275 67 68.
About ASSA ABLOY
ASSA ABLOY is a global leader in access solutions, committed to ensuring safety and security while promoting a more open world. With a workforce of 63,000 employees, the company generates sales of SEK 150 billion, dominating sectors such as efficient door openings, trusted identities, and entrance automation. Through continuous innovation, ASSA ABLOY guarantees reliable access to both physical and digital environments.
Frequently Asked Questions
What does the acquisition of Pedestal PRO signify for ASSA ABLOY?
This acquisition enhances ASSA ABLOY's product range and strengthens its market position in access control technologies, providing innovative solutions to clients.
What are the financial projections for Pedestal PRO?
Sales for Pedestal PRO are projected to reach approximately MUSD 11, contributing positively to ASSA ABLOY’s financials and earnings per share.
Who are key leaders involved in the acquisition?
Nico Delvaux, President and CEO, and Lucas Boselli, Executive Vice President, are the main executives sharing insights about the acquisition.
How does Pedestal PRO align with ASSA ABLOY's strategy?
Pedestal PRO complements ASSA ABLOY's current offerings, allowing them to enhance customer solutions in the access control market.
What is ASSA ABLOY's mission?
ASSA ABLOY aims to provide safe and secure access solutions, improving the quality of life for individuals and organizations globally.
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