PR Newswire | May 21, 2021 02:21AM EDT

05/21 01:20 CDT

ASSA ABLOY acquires Sure-Loc in the USASSA ABLOY acquires Sure-Loc in the US STOCKHOLM, May 21, 2021

STOCKHOLM, May 21, 2021 /PRNewswire/ -- ASSA ABLOY has acquired Sure-Loc, a leading supplier of residential locks and associated hardware in the US.

"I am very pleased to welcome Sure-Loc into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business," says Nico Delvaux, President and CEO of ASSA ABLOY.

"The acquisition of Sure-Loc complements our mechanical hardware portfolio, supporting our ambitions to grow our residential business in the US," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. "Sure-Loc's reputation for quality products and excellent customer service reflect our values and I'm excited for them to become part of ASSA ABLOY."

Sure-Loc was established in 2002 and has some 45 employees. The main office is located in Salt Lake City, USA.

Sales for 2020 amounted to about 14 MUSD (approx. 120 MSEK) with a good EBIT margin. The acquisition will be accretive to EPS from start.

For more information, please contact:

Nico Delvaux, President and CEOtel. no: +46 8 506 485 82

Erik Pieder, CFO and Executive Vice Presidenttel. no: +46 8 506 485 72

Bjrn Tibell, Head of Investor Relationstel. no: +46 70 275 67 68

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 48,000 employees and sales of SEK 88 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-acquires-sure-loc-in-the-usassa-abloy-acquires-sure-loc-in-the-us,c3351167

The following files are available for download:

https://mb.cision.com/Main/7333/3351167/1420652.pdf Press release (PDF)

https://news.cision.com/assa-abloy/i/sure-loc-1,c2915303 Sure-Loc 1

https://news.cision.com/assa-abloy/i/sure-loc2,c2915302 Sure-Loc2

https://news.cision.com/assa-abloy/i/sure-loc3,c2915301 Sure-Loc3

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SOURCE ASSA ABLOY