ASSA ABLOY has acquired the Canadian company Helton, a manufacturer of hardware
for sectional doors for residential and industrial customers. The Helton group
operates in the Canadian and US markets.
"I am very pleased to announce that our growth in the entrance automation
segment continues. This is a first strategic entry to the North American market
within sectional doors," says Johan Molin, President and CEO of ASSA ABLOY.
"Following the important addition of FlexiForce last year, this is a good step
to enhance our position as the global leader in sectional door hardware and
gives us a presence in North America. Helton also brings an experienced
management team and a wide presence in the Canadian and US markets," says Juan
Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance
Systems.
The Helton group has 235 employees. The company is based in Abbotsford in
Western Canada.
Sales is expected to reach CAD 54 M (approx SEK 370 M) in 2012 with a good EBIT
margin. The acquisition is accretive to EPS from start.
The deal was closed simultaneously with signing on May 10, 2012.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
Carolina Dybeck Happe, CFO and Executive Vice President, tel no:
+46 8 506 485 72
Press release PDF:
http://hugin.info/1014/R/1611209/512395.pdf
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Source: ASSA ABLOY via Thomson Reuters ONE
[HUG#1611209]