Money Buzz! Europa

Tag: ASSA ABLOY

  • Assa Abloy sells Switzerland based CEDES to Capiton AG

    Assa Abloy sells Switzerland based CEDES to Capiton AG

    Assa Abloy has signed an agreement to sell its sensor technology business CEDES in Switzerland to Capiton AG.

    CEDES was established in 1986 and has some 320 employees and is a leading sensor technology company in the elevator and door industry.

    The company is headquartered in Landquart, Switzerland. Sales in 2019 amounted to about 51 MEUR.

    “I find it very satisfying that with capiton AG, CEDES and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of Assa Abloy.

    The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2020.

  • Assa Abloy acquires Reading based company Access-IS

    Assa Abloy acquires Reading based company Access-IS

    Assa Abloy has acquired Access-IS, a leading provider of electronic RFID, NFC and barcode devices enabling the authentication of travel and identity documents, ticket reading and contactless payments.

    “Access-IS is a strategic technological addition to us. The company will reinforce our current offering within extended access technologies and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of Assa Abloy.

    Access-IS was founded in 1985 and has some 120 employees. The main office is located in Reading, UK.

    Sales in 2019 amounted to about MGBP 19 (approx. MSEK 220) and the acquisition will be neutral to EPS from start.

    Assa Abloy Group is the global leader in access solutions. The company operates worldwide with 49,000 employees and sales of SEK 94 billion.

  • ASSA ABLOY Acquires AM Group in Australia

    ASSA ABLOY Acquires AM Group in Australia

    ASSA ABLOY has signed an agreement to acquire AM Group, an Australian industrial door company within entrance automation.

    “I am very pleased to welcome AM Group and their employees into the ASSA ABLOY Group. I welcome this complementary addition to our business, specializing in innovative entrance automation,” says Nico Delvaux, President and CEO of ASSA ABLOY.

    “AM Group complements both our product offering and our geographic coverage in Australia. By adding their strong product portfolio, which includes rolling steel doors and bi-fold doors, to ASSA ABLOY’s commercial network, technologies and competences, we will continue our successful journey,” says Mogens Jensen, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

    AM Group was founded in Australia in 1923 and has 425 employees. The head office is located in Sydney, Australia.

    Sales for 2019 are expected to reach about AUD 120 million (approx. SEK 800 million) with a good EBIT margin and the acquisition will be accretive to EPS from the start.

    The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the first quarter of 2020.