Assa Abloy: acquisition in Italy
(CercleFinance.com) - Assa Abloy announced on Thursday that it has reached an agreement to acquire Mottura, an Italian manufacturer of reinforced home locks and high-security lock cylinders, which has about 120 employees.
The Swedish group, a global leader in access solutions, says that the acquisition will reinforce its presence in the Italian market, where it is looking to strengthen its position.
Founded in 1972 in the suburbs of Turin, Mottura had sales of around E28m last year, with a "good" operating margin, which means that the acquisition will be accretive as soon as it is completed.
Assa Abloy says it expects to complete the acquisition in Q2.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
The Swedish group, a global leader in access solutions, says that the acquisition will reinforce its presence in the Italian market, where it is looking to strengthen its position.
Founded in 1972 in the suburbs of Turin, Mottura had sales of around E28m last year, with a "good" operating margin, which means that the acquisition will be accretive as soon as it is completed.
Assa Abloy says it expects to complete the acquisition in Q2.
Copyright (c) 2023 CercleFinance.com. All rights reserved.