Assa Abloy: an acquisition in US - another in Germany

(CercleFinance.com) - Assa Abloy announced two acquisitions on Wednesday, one in the US and the other in Germany, as part of its strategy to strengthen its position in businesses that complement its core activities.


The Swedish locksmith giant, which has been stepping up its number of targeted takeovers in recent years, said it had acquired the American company InVue, a manufacturer of connected anti-theft devices.

The company, which develops customized security tools for retailers in particular, generated sales of $165m last year, accompanied by a "solid" level of operating margin.

The acquisition of North Carolina-based Uhlmann & Zacher, founded in 1986 and now employing 260 people, is expected to be accretive as soon as it is completed.

In Germany, Assa Abloy says it has acquired Uhlmann & Zacher, a manufacturer of software-enabled door handles founded in 1990, which has about 110 employees.

The acquisition of this Bavarian-based company - with annual sales of E21m - should again be accretive from the outset.


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