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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