ASSA ABLOY acquires Securitech Group
By SSN Staff
Updated 3:22 PM CDT, Wed October 4, 2023
NEW YORK – ASSA ABLOY has acquired the Securitech Group, a manufacturer of high-security mechanical and electronic door hardware products in the U.S.
"I am very pleased to welcome Securitech into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” said Nico Delvaux, president and CEO of ASSA ABLOY.
Securitech was established in 1983 and has roughly 50 employees. The main office and factory are located in Maspeth, Queens, N.Y. According to ASSA ABLOY, the company's 2022 sales amounted to about MUSD 16 (approx. MSEK 160) with a strong EBIT margin, and the acquisition will be accretive to EPS from the start.
"Securitech’s focus on innovative, high-security locking solutions fills several gaps in our existing door hardware portfolio and I’m excited for them to be part of ASSA ABLOY," noted Lucas Boselli, executive vice president of ASSA ABLOY and head of the Americas Division. “This acquisition provides a great opportunity for us to further enhance our core offering to education, critical infrastructure, government, behavioral health, and other high-security markets.”
This follows a pattern of recent acquisitions for ASSA ABLOY including the just announced Inovadoor Portas Industriais Ltda and the acquisition of Evolis in July. The company posted a strong quarter, especially in North America which Delvaux attributed to good momentum.
More information is available online at www.assaabloy.com.
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