STOCKHOLM - ASSA ABLOY, the global leader in access solutions, has announced an agreement to acquire Amecor (Pty) Ltd, a South African manufacturer specializing in security communication equipment. The move is aimed at bolstering ASSA ABLOY's presence in the South African security market, which the company views as a key area for growth.
Amecor, established in 1994 and based in Johannesburg, employs around 120 people. The company has a notable track record in the South African security sector, particularly known for its alarm systems. According to ASSA ABLOY, Amecor's products complement its own electronic security solutions, promising synergies that are expected to benefit customers.
The acquisition, which is still subject to regulatory approval and customary closing conditions, is anticipated to be finalized during the second quarter of 2024. ASSA ABLOY's leadership expressed confidence in the strategic fit of Amecor, highlighting a shared commitment to the South African and Sub-Saharan markets.
Financial details of the deal include Amecor's 2022 sales of approximately MZAR 270 (around MSEK 170) and a robust EBIT-margin. ASSA ABLOY expects the acquisition to be accretive to earnings per share from the outset.
ASSA ABLOY operates globally with a workforce of 52,000 employees and reported sales of SEK 121 billion. The company holds leading positions in sectors including door openings, identity verification, and entrance automation, and is committed to fostering safer and more open access to both physical and digital spaces.
This acquisition is part of ASSA ABLOY's ongoing strategy to expand its market share and product offerings in key markets. The integration of Amecor is projected to enhance the company's product suite and customer service capabilities. The information regarding this acquisition is based on a press release statement issued by ASSA ABLOY.
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