Lock manufacturer Assa Abloy has acquired Canadian company Sam's Garage Doors, which generates revenues of 17 million Canadian dollars, equivalent to approximately 120 million Swedish kronor. The news was announced in a press release.
Founded in 1990, Sam's Garage Doors employs around 40 people and serves as a distributor, installer, and service provider of various door products, as well as a manufacturer of gate products. The company will become part of the Industrial business segment within the Entrance Systems division at Assa Abloy.
The acquired company is described as having a strong operating margin and is expected to contribute positively to Assa Abloy's earnings per share from the outset.
"Through the acquisition of Sam's Garage Doors, we are strengthening our position in Western Canada and expanding our service reach in the Greater Vancouver area," said Massimo Grassi, Head of Entrance Systems.
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 (45.3%): 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 (31.2%): access codes, electronic locks, etc.;
- mechanical locking systems (23.5%): locks, padlocks, bolts, etc.
Net sales are distributed geographically as follows: Europe (32.9%), North America (53.2%), Asia (6.2%), Oceania (3.5%), Central and South America (3.1%) and Africa (1.1%).
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