The Swedish company ASSA ABLOY has acquired Leone Fence, a Canadian manufacturer, distributor, and installer of fencing products for both commercial and residential applications.
It is a great pleasure for me to welcome Leone Fence to the ASSA ABLOY Group as this acquisition strengthens our offering within the perimeter security segment in the Canadian market, says Nico Delvaux, President and CEO of ASSA ABLOY.
A new opportunity has arisen within the Perimeter Security offering of our company as we acquire Leone Fence. Massimo Grassi, Executive Vice President and Head of ASSA ABLOY's Entrance Systems Division, stated that combining our core competencies will strengthen our ability to enter the Canadian market quickly, develop new products, and expand our overall presence on the Canadian market.
There are more than 60 employees at Leone Fence, which was founded in 1975 and is located in Ontario, Canada, with the main office and factory in the city.
The total sales for the first quarter of 2022 are expected to reach about MCAD 39 (approximately MSEK 300) with a strong EBIT-margin. The acquisition will result in EPS growth from the very beginning.
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: [email protected] Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82 Erik Pieder, Chief Financial Officer and Executive Vice President, tel. no: +46 8 506 485 72
With 52,000 employees and sales of SEK 121 billion, the ASSA ABLOY Group is a global leader in access solutions. It operates worldwide with 52,000 employees. The Group's innovations enable safe, secure and convenient access to both physical and digital places. As a result, we are able to provide billions of people with the opportunity to experience a more open world every day. With our innovations, we enable safe, secure and convenient access to both physical and digital places.
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Source prnewswire