United States. Assa Abloy reported on the recent acquisition of Sure-Loc, a provider of residential locks and associated hardware in the United States.
"I am very pleased to welcome Sure-Loc to the Assa Abloy Group. This acquisition fulfills our strategy to strengthen our position in mature markets by adding complementary products and solutions to our core business," said Nico Delvaux, President and Chief Executive Officer of Assa Abloy.
"The acquisition of Sure-Loc complements our mechanical hardware portfolio, supporting our ambitions to grow our residential business in the U.S.," says Lucas Boselli, executive vice president of Assa Abloy and head of the Americas Division. "Sure-Loc's reputation for quality products and excellent customer service reflects our values and I am excited that they will become part of Assa Abloy."
Sure-Loc was established in 2002 and has about 45 employees. The main office is located in Salt Lake City. Sales for 2020 amounted to approximately US$14 million with a good EBIT margin. The acquisition will benefit EPS from the outset.
