NSP will join ASSA ABLOY's Global Solutions business area under the Hospitality division.
ASSA ABLOY has acquired NSP Security, a United Kingdom-based company specializing in the design, manufacturing and installation of access control solutions primarily for the student accommodation segment.
NSP will join ASSA ABLOY's Global Solutions business area under the Hospitality division. The acquisition was announced February 2.
Nico Delvaux, President and CEO of ASSA ABLOY, stated he is pleased to welcome NSP into the company. He described the acquisition as an exciting technological addition that will reinforce the current offering within the hospitality business and provide complementary growth opportunities.
Stephanie Ordan, Executive Vice President and Head of Global Technologies business unit Global Solutions, said NSP is a provider of electronic access control solutions to a broad range of customers across the student accommodation segment. She called NSP an excellent addition to Global Solutions and said the company's strong expertise in access control expands ASSA ABLOY's offerings across the Hospitality business area.
NSP was founded in 1993 and employs approximately 20 people. The company's main office is located in Borehamwood, U.K.
The company's sales for 2024 totaled about approximately $10.9 million, with a strong EBIT margin. ASSA ABLOY said the acquisition will be accretive to earnings per share from the start.