Assa Abloy acquires Nassau in Denmark

Assa Abloy has signed an agreement to acquire Nassau in Denmark, an important European supplier of industrial overhead sectional doors.

"I am very pleased that Nassau is joining the Assa Abloy Group. I welcome this addition that further reinforces the Assa Abloy Group's leadership in entrance automation, where our sales have grown from US$351 million (SEK 3 billion) in 2008 to $2.1 billion (SEK 18 billion) in 2015," said Johan Molin, President and CEO of Assa Abloy.

"Nassau has a good foothold in a number of European markets and brings additional competence in Sectional Doors and Service. I welcome the Nassau team to actively participate in our exciting journey," says Juan Vargues, Executive Vice President of Assa Abloy and Head of Division Entrance Systems.

Nassau was established in 1970 and has some 360 employees. The company is headquartered in Ringe, Denmark. The transaction is subject to regulatory approval and is expected to close during Q3 2016.