Swedish lock and bolt manufacturer Assa Abloy announced on Tuesday the continuation of its strategy of targeted acquisitions with the purchase of South African security equipment specialist Amecor.
In a press release, the group explains that the operation will enable it to strengthen its presence in South Africa and sub-Saharan Africa, a geographic market it considers to be 'important'.
Founded in 1994, Amecor - which employs 120 people at its Johannesburg offices and factory - manufactures alarm systems and security equipment.
Its sales in 2022 amounted to 170 million Swedish crowns (around 15 million euros), Assa Abloy points out, with a 'good level' of operating margin, which means that the acquisition will be accretive as soon as it is finalized, i.e. during the second quarter.
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Assa Abloy AB is the world's leading manufacturer of locking systems. Net sales break down by family of products as follows:
- security doors and systems (47.1%): shielded and automatic doors, magnetic card locking systems (for use by hotels) and security systems for parking meters, slot machines), etc.;
- electronic and electromechanical locking systems (30%): access codes, electronic locks, etc.;
- mechanical locking systems (22.9%): locks, padlocks, bolts, etc.
Net sales are distributed geographically as follows: Europe (32.4%), North America (51.7%), Asia (7.4%), Oceania (4%), Americas (3.3%) and Africa (1.2%).