ASSA ABLOY has signed an agreement to acquire Ameristar
ASSA ABLOY has signed an agreement to acquire Ameristar, the leading US manufacturer of perimeter security solutions. Ameristar offers a comprehensive product range of industrial and high security fencing and gates, complementing the ASSA ABLOY offering of security solutions in the American market.
“It is with excitement that I welcome Ameristar to the group. Ameristar is a highly strategic addition to ASSA ABLOY. The company reinforces our market leadership in North America and constitutes an important step in providing a complete range of products for total door opening solutions.” says Johan Molin, President and CEO of ASSA ABLOY.
“Ameristar has built a solid reputation among building owners, architects and installers as the premier provider of security fencing solutions for the US market. Ameristar brings new valuable competencies to the group as well as providing an excellent fit with our broad array of security and safety solutions.” says Thanasis Molokotos, Executive Vice President of ASSA ABLOY and Head of the Americas Division.
Ameristar was established in 1982 and has some 650 employees. The head office and factory is located in Tulsa, Oklahoma. Sales are expected to reach USD 173 M (approx. SEK 1 100 M) in 2013 with a good EBIT margin. The acquisition is accretive to EPS from start.
The transaction is subject to regulatory approval and is expected to close during Q4 2013.