ASSA ABLOY has signed an agreement to acquire MSL Schloss und Beschlägefabrik AG, a leading Swiss supplier of innovative locks.
ASSA ABLOY has signed an agreement to acquire MSL Schloss und Beschlägefabrik AG, a leading Swiss supplier of innovative locks.
"I am very pleased to welcome MSL into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary market segments and products", said Johan Molin, President and CEO of ASSA ABLOY.
"MSL stands for innovative lock technology", said Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and head of the EMEA division. “It has continually shown its success thanks to its high product quality and competent and dedicated employees. MSL will fill in a gap in our product portfolio in the important Swiss market, making ASSA ABLOY more relevant to our Swiss distributors.”
MSL was founded in 1892 and has 106 employees. Its head office and factory is located in Kleinlützel near Basel, Switzerland. Sales for 2015 are expected to reach CHF 20 M (approx. SEK 180 M) in the financial year ending 30 June 2015.
The acquisition will be accretive to EPS from start.
The transaction is expected to close during Q2 2015.