ASSA ABLOY Acquires L-Door in Belgium

Regulatory News:

ASSA ABLOY (STO:ASSAB) has signed an agreement to acquire the Belgian company L-Door, one of the market leaders in sectional doors.

"I am very pleased that L-Door is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group´s leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 15 billion proforma in 2014”, says Johan Molin, President and CEO of ASSA ABLOY.

"L-Door is another important step to increase our strong market position in the sectional door industry. Besides a strong brand and innovative products L-door has a strong service organization offering an excellent market coverage in Belgium. I welcome the entire L-door team”, says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.

L-Door was established in 1997 and has some 120 employees. The head office and factory is located in Liedekerke, Belgium.

Sales for 2015 are expected to reach EUR 19 M (approx. SEK 175 M) with a good EBIT margin. The acquisition will be accretive to EPS from start.

The transaction is expected to close during Q2 2015.

About ASSA ABLOY

ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 44,000 employees, operations in more than 70 countries and sales close to SEK 57 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.

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