ASSA ABLOY acquires Leone Fence in Canada

USA - English

• USA - English

STOCKHOLM, Dec. 5, 2023 /PRNewswire/ -- ASSA ABLOY has acquired Leone Fence, a Canadian manufacturer, distributor and installer of fencing products for commercial and residential applications.

"I am very pleased to welcome Leone Fence into the ASSA ABLOY Group. This acquisition reinforces our current offering within perimeter security in the Canadian market," says Nico Delvaux, President and CEO of ASSA ABLOY.

"The acquisition of Leone Fence presents an exciting opportunity within our Perimeter Security offering. By combining our core competencies, we can strengthen our ability to quickly enter the market, develop new products, and expand our overall presence in the Canadian market," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

Leone Fence was founded in 1975 and has some 60 employees. The main office and factory are located in Ontario, Canada.

Sales for 2022 amounted to about MCAD 39 (approx. MSEK 300) with a strong EBIT-margin. The acquisition will be accretive to EPS from the start.

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: [email protected]

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.

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SOURCE CISION AB