ASSA ABLOY has acquired Sure-Loc, a leading supplier of residential locks and associated hardware in the US.
"I am very pleased to welcome Sure-Loc 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.
"The acquisition of Sure-Loc complements our mechanical hardware portfolio, supporting our ambitions to grow our residential business in the US," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “Sure-Loc’s reputation for quality products and excellent customer service reflect our values and I’m excited for them to become part of ASSA ABLOY.”
Sure-Loc was established in 2002 and has some 45 employees. The main office is located in Salt Lake City, USA.
Sales for 2020 amounted to about 14 MUSD (approx. 120 MSEK) with a good EBIT margin. The acquisition will be accretive to EPS from start.