ASSA ABLOY acquires California-based Level Lock

STOCKHOLM —ASSA ABLOY announced it has acquired Level Lock, a technology solutions business based in Redwood City, Calif. 

"I am very pleased to welcome Level Lock into the ASSA ABLOY Group. This acquisition is an exciting technological addition to the ASSA ABLOY Group and will provide complementary growth opportunities,” said Nico Delvaux, president and CEO of ASSA ABLOY.

"The acquisition of Level Lock complements ASSA ABLOY’s technology portfolio and strengthens our digital offering across multiple businesses in the Americas Division,” noted Lucas Boselli, executive vice president of ASSA ABLOY and head of the Americas Division. “Their innovative platform provides an easy transition from mechanical locking to digital access solutions with minimal effort.”

Level Lock was founded by John Martin and Ken Goto in 2016 and has some 70 employees. The company will operate as an independent brand and subsidiary of ASSA ABLOY, allowing its original founding mission to grow and expand “with support from a global leader in access solutions,” Martin said.

“Eight years ago, Ken and I founded Level Home, Inc. to create innovative home products that brought families together by simplifying their everyday lives while still respecting the design integrity of their home,” he continued. “We built a company with immense engineering, marketing, and design capabilities that thrive to this day. We brought to life the Level Lock and expanded into the multifamily space, creating Level M, the most reliable and technically advanced platform of its kind. Today, we are taking the next steps on this exciting journey.”

Level Lock sales for 2023 amounted to about MUSD 16 (approx. MSEK 170). The acquisition will be dilutive to EPS from the start.