ASSA ABLOY has acquired Pacific Door Systems, a manufacturer of commercial doors & window systems in New Zealand.
"I am very pleased to welcome Pacific Door Systems and their employees 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.
“Pacific Door Systems is an excellent addition to the Asia Pacific Division and complements our existing door opening solutions offering for our customers. The acquisition also provides synergy opportunities and an attractive potential to accelerate our growth in New Zealand”, says Anders Maltesen, Executive Vice President of ASSA ABLOY and Head of Division Asia Pacific.
Pacific Door Systems was established in 1992 and has approximately 80 employees. The head office is located in Wellington, New Zealand.
Sales for 2018 are expected to reach about NZD 20 million (approx. SEK 125 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.