ASSA ABLOY acquires Caldwell

Rhea-AI Summary

On June 22, 2022, ASSA ABLOY announced the acquisition of Caldwell, a manufacturer of fenestration hardware for window manufacturers. This strategic move aims to enhance ASSA ABLOY's offerings and strengthen its position in the Pacific & North East Asia Division. Caldwell, founded in 1888 and employing around 800 staff, reported 2021 sales of approximately MSEK 1,000. The acquisition is expected to be accretive to earnings per share (EPS) immediately, reflecting ASSA ABLOY's commitment to expanding its product portfolio.

Positive

• Acquisition expected to be accretive to EPS from the start.
• Strengthens position in the fenestration hardware market.
• Caldwell's established presence (founded in 1888) adds credibility.

Negative

• None.

STOCKHOLM, June 22, 2022 /PRNewswire/ -- ASSA ABLOY has acquired Caldwell, a manufacturer of fenestration hardware for window manufacturers.

"I am very pleased to welcome Caldwell into the ASSA ABLOY Group. This acquisition delivers on our strategy to add complementary products and solutions to our core business," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Caldwell is an excellent addition to the Pacific & North East Asia Division and provides complementary growth opportunities. The acquisition will strengthen our position with fenestration manufacturers and I look forward to working with the experienced team to continue Caldwell's successful journey," says Simon Ellis, Executive Vice President and Head of Asia Pacific ASSA ABLOY Opening Solutions Pacific & North East Asia.

Caldwell was established in 1888 and has some 800 employees.

Sales for 2021 amounted to about MSEK 1,000. 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 51,000 employees and sales of SEK 95 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.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-acquires-caldwell,c3589665

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https://mb.cision.com/Main/7333/3589665/1595803.pdf

Press release (PDF)

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-caldwell-301572769.html

SOURCE ASSA ABLOY

FAQ

What is the main purpose of ASSA ABLOY's acquisition of Caldwell?

The acquisition aims to enhance ASSA ABLOY's product offerings and strengthen its position in the fenestration hardware market.

When was Caldwell founded and how many employees does it have?

Caldwell was established in 1888 and currently has around 800 employees.

What were Caldwell's sales figures for 2021?

Caldwell reported sales of approximately MSEK 1,000 for the year 2021.

How will the acquisition affect ASSA ABLOY's financials?

The acquisition is expected to be accretive to earnings per share (EPS) from the start.

In what regions will the acquisition strengthen ASSA ABLOY's position?

The acquisition will strengthen ASSA ABLOY's position particularly in the Pacific & North East Asia Division.