ASSA ABLOY acquires LifeSafety Power
By SSN Staff
Updated Wed September 4, 2019
NEW HAVEN, Conn.—ASSA ABLOY has acquired LifeSafety Power, a leading U.S. supplier of smart integrated access control power solutions for OEMs, integrators and end-users.
"I am very pleased to welcome LifeSafety Power into the ASSA ABLOY Group. LifeSafety Power constitutes a strategic addition to the Group and reinforces our position in access control solutions,” Nico Delvaux, president and CEO of ASSA ABLOY, said in the announcement.
LifeSafety Power was established in 2009 and has some 65 employees. The main office is located in Libertyville, Illinois.
Sales for 2019 are expected to reach about $30 million (approx. SEK 290 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.
"LifeSafety Power is a great complement to our access control portfolio - we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division.
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