ASSA ABLOY acquires Wallace & Wallace and Wallace Perimeter Security in Canada
Rhea-AI Summary
ASSA ABLOY has acquired Wallace & Wallace and Wallace Perimeter Security, a Canadian manufacturer, distributor and installer of perimeter fencing, door and gate solutions. The acquisition strengthens ASSA ABLOY's position in mature markets and enhances its Perimeter Security portfolio, particularly in Central Canada.
Founded in 1946, Wallace & Wallace employs approximately 160 people and operates from its main office and factory in Winnipeg, Manitoba. The company will be integrated into the Business Segment Perimeter Security within the Entrance Systems Division.
The acquired company reported sales of MCAD 57 (approximately MSEK 440) in 2024 with a strong EBIT margin. The acquisition is expected to be accretive to earnings per share from the start.
Positive
- Strong EBIT margin in acquired business
- Immediately accretive to earnings per share
- Strengthens market position in Central Canada
- Expands perimeter security product portfolio
Negative
- None.
"I am very pleased to welcome Wallace & Wallace 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.
"By acquiring Wallace & Wallace, we are enhancing and complementing our Perimeter Security portfolio," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. "This acquisition enables us to introduce new products to our existing and new customers while further strengthening our presence in
Wallace & Wallace was founded in 1946 and has some 160 employees. The main office and factory are located in
Sales for 2024 amounted to about MCAD 57 (approx. MSEK 440) 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
ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. We operate worldwide with 63,000 employees and sales of
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SOURCE ASSA ABLOY
FAQ
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