ASSA ABLOY acquires Capital Door Service in the US

Rhea-AI Summary

ASSA ABLOY has acquired Capital Door Service, a prominent door distributor and service provider in California, Nevada, and Arizona. Founded in 1999, Capital Door Service generated approximately MUSD 17 in sales for 2020, showcasing a strong EBIT margin. The acquisition is expected to enhance ASSA ABLOY's geographic reach in the Western U.S. and will be accretive to earnings per share from the start. CEO Nico Delvaux emphasized the strategic value of this addition, which focuses on entrance automation.

Positive

• Acquisition enhances geographical coverage in Western U.S.
• Expected to be accretive to earnings per share from the start.
• Strong market position of Capital Door Service complements ASSA ABLOY's business focus on entrance automation.

Negative

• None.

STOCKHOLM, Aug. 11, 2021 /PRNewswire/ -- ASSA ABLOY has acquired Capital Door Service, a leading pedestrian door distributor and service company in California, Nevada and Arizona.

"I am very pleased to welcome Capital Door Service into the ASSA ABLOY Group. I welcome this complementary addition, specializing in entrance automation, to our business," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Capital Door Service with its strong market position will further strengthen our geographic coverage in Western U.S. I welcome the team to ASSA ABLOY and I am convinced that we will continue together our successful journey," says Markus Kast, Head of Entrance Systems business segment Pedestrian.

Capital Door Service was founded in 1999 and has some 50 employees. The company is headquartered in Sacramento, California.

Sales in 2020 amounted to about MUSD 17 (approx. MSEK 150) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

For more information, please contact:

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

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 48,000 employees and sales of SEK 88 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

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Press release (PDF)

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-capital-door-service-in-the-us-301352982.html

SOURCE ASSA ABLOY

FAQ

What is the strategic importance of ASSA ABLOY's acquisition of Capital Door Service?

The acquisition will strengthen ASSA ABLOY's geographic coverage in the Western U.S. and enhance its capabilities in entrance automation.

How much revenue did Capital Door Service generate in 2020?

Capital Door Service generated approximately MUSD 17 in sales for 2020.

Will the acquisition of Capital Door Service impact ASSA ABLOY's earnings per share?

Yes, the acquisition is expected to be accretive to ASSA ABLOY's earnings per share from the start.

When was the acquisition of Capital Door Service announced?

The acquisition was announced on August 11, 2021.

In which states does Capital Door Service operate?

Capital Door Service operates in California, Nevada, and Arizona.