Assa Abloy confirms two key acquisitions
21 December 2018
ASSA ABLOY has acquired Pacific Door Systems in New Zealand and also US firm Luxer One.
Pacific Door Systems is a manufacturer of commercial doors and window systems. It was established in 1992 and has approximately 80 employees. The head office is located in Wellington, New Zealand. Sales for 2018 are expected to reach about NZD 20 million with a good EBIT margin and the acquisition will be accretive to EPS from start.
Luxer One was established in 2013 and is a leading advanced package locker solutions business in the US. It has approximately 130 employees and its head office is located in Sacramento, California. Sales for 2018 are expected to reach about USD 37 million and the acquisition will be neutral to EPS from start.
Speaking on the acquisition of Pacific Door Systems. Assa Abloy head of division for Asia Pacific Anders Maltesen said: “Pacific Door Systems is an excellent addition to the Asia Pacific Division and complements our existing door opening solutions offering for our customers. The acquisition also provides synergy opportunities and an attractive potential to accelerate our growth in New Zealand.”
Assa Abloy head of the Americas division Lucas Boselli added: “Luxer One provides us with good synergistic opportunities in significant vertical markets, such as education and corporate buildings. Also, Luxer One is a key player and a good platform to leverage in the click and collect retail trend.”