Assa Abloy has acquired Securistyle Group Holdings in the UK. Securistyle specializes in window hardware and its product offering includes performance friction hinges, handles and window locks.
"I am very pleased to welcome Securistyle into the Assa Abloy Group," says Johan Molin, President and CEO of Assa Abloy. "This acquisition strengthens our position in the UK, as part of our strategy to add complementary products and segments to our offering in the mature markets."
Securistyle was established in 1978 and it is based in Cheltenham, UK. The company employs 205 people. 75 percent of the products are sold in the UK, while the remainder is sold in various export markets.
Sales are expected to reach GBP 21 million in 2012. The acquisition is EPS accretive from start.