ASSA ABLOY acquires Ghost Controls in the US

Rhea-AI Summary

ASSA ABLOY (ASAZY) has acquired Ghost Controls, a US supplier of automated residential gate openers. The acquisition aims to strengthen ASSA ABLOY's position in mature markets by adding complementary products and solutions to its core business. Ghost Controls, founded in 2015, has shown impressive development within the residential gate automation industry and had sales amounting to [insert sales figure for 2022] in 2022. The acquisition is expected to enhance ASSA ABLOY's product offerings and innovation capabilities.

STOCKHOLM, Dec. 7, 2023 /PRNewswire/ -- ASSA ABLOY has acquired Ghost Controls, a US supplier of automated residential gate openers.

"I am very pleased to welcome Ghost Controls 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," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Ghost Controls impressive development within the residential gate automation industry and their strong culture of innovation makes them a very good complement to our core business, and I am very excited for them to be part of our organization," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

Ghost Controls was founded in 2015 and has some 40 employees. The company is headquartered in Tallahassee, Florida, USA.

Sales for 2022 amounted to about MUSD 30 (approx. MSEK 300) with a strong 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, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 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.

 

The following files are available for download:

https://mb.cision.com/Main/7333/3889579/2478964.pdf	Press Release (PDF)
https://news.cision.com/assa-abloy/i/ghost-collage1,c3246716	Ghost collage1

 

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-ghost-controls-in-the-us-302008504.html

SOURCE ASSA ABLOY

FAQ

What company has acquired Ghost Controls?

ASSA ABLOY (ASAZY)

What does Ghost Controls specialize in?

Ghost Controls is a US supplier of automated residential gate openers.

Where is Ghost Controls headquartered?

Ghost Controls is headquartered in Tallahassee, Florida, USA.

How many employees does Ghost Controls have?

Ghost Controls has approximately 40 employees.

What were Ghost Controls' sales in 2022?

The sales figure for Ghost Controls in 2022 has not been provided in the PR.