ASSA ABLOY acquires Securitech Group Inc. in the US

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Oct 04, 2023, 02:12 ET

STOCKHOLM, Oct. 4, 2023 /PRNewswire/ -- ASSA ABLOY has acquired Securitech Group Inc. ("Securitech"), a manufacturer of high-security mechanical and electronic door hardware products in the U.S.

"I am very pleased to welcome Securitech 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.

"Securitech's focus on innovative, high-security locking solutions fills several gaps in our existing door hardware portfolio and I'm excited for them to be part of ASSA ABLOY," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. "This acquisition provides a great opportunity for us to further enhance our core offering to education, critical infrastructure, government, behavioral health, and other high-security markets."

Securitech was established in 1983 and has some 50 employees. The main office and factory are located in Maspeth, Queens, New York.

Sales for 2022 amounted to about MUSD 16 (approx. MSEK 160) 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: [email protected]

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.

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