May 12 2015
ASSA ABLOY has signed an agreement to acquire the Belgian company L-Door, one of the market leaders in sectional doors.
"I am very pleased that L-Door is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group´s leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 15 billion proforma in 2014”, says Johan Molin, President and CEO of ASSA ABLOY.
"L-Door is another important step to increase our strong market position in the sectional door industry. Besides a strong brand and innovative products L-door has a strong service organization offering an excellent market coverage in Belgium. I welcome the entire L-door team”, says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
L-Door was established in 1997 and has some 120 employees. The head office and factory is located in Liedekerke, Belgium.
Sales for 2015 are expected to reach EUR 19 M (approx. SEK 175 M) with a good EBIT margin. The acquisition will be accretive to EPS from start.
The transaction is expected to close during Q2 2015.
For more information, please contact:
Johan Molin, President and CEO, tel no: +46 8 506 485 42
CarolinaDybeck Happe, CFO and Executive Vice President, tel no: +46 8 506 485 72
Source: http://www.assaabloy.com/