Assa Abloy has acquired the Canadian company Helton, a manufacturer of hardware for sectional doors for residential and industrial customers. The Helton group operates in the Canadian and US markets.
"I am very pleased to announce that our growth in the entrance automation segment continues. This is a first strategic entry to the North American market within sectional doors," says Johan Molin, President and CEO of Assa Abloy.
"Following the important addition of FlexiForce last year, this is a good step to enhance our position as the global leader in sectional door hardware and gives us a presence in North America. Helton also brings an experienced management team and a wide presence in the Canadian and US markets," says Juan Vargues, Executive VP of Assa Abloy and Head of Division Entrance Systems.
The Helton group has 235 employees. The company is based in Abbotsford in Western Canada.
Sales is expected to reach CAD 54 M (approx SEK 370 M) in 2012 with a good EBIT margin. The acquisition is accretive to EPS from start.
The deal was closed simultaneously with signing on May 10, 2012.