Assa Abloy: acquisition in automatic doors in US

(CercleFinance.com) - Assa Abloy announced on Tuesday that it has acquired the US company J Newton Enterprises, which specialises in the marketing of pedestrian doors and the provision of associated services.


The world leader in locks explains that the transaction is part of its strategy to strengthen its position in the automatic entrance door market.

Founded in 2003 and based in Inverness (Florida), J Newton generated sales of around 16 million dollars in 2021, with a "good level" of operating margin (Ebit) according to the Swedish group.

The acquisition should therefore be accretive as soon as it is completed, Assa Abloy says.

Seems to be of no avail however, with the share currently down 2%.


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