ASSA ABLOY acquires the hardware division of MR Group in Portugal

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Stockholm, June 2, 2021 /PRNewswire/ – ASSA ABLOY has signed an agreement to acquire the hardware division of MR Group, a leading aluminum profile hardware and lock-in supplier Portugal.

“I am very pleased to welcome the MR Group hardware division 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 Delvo, President and CEO of ASSA ABLOY.

“We are committed to developing our core machinery business, and the acquisition of the MR Group hardware division will help us advance this goal by expanding our product portfolio and improving our regional footprint,” said Neil Fann, ASSA ABLOY Executive Vice President and Head of EMEIA Department.

The hardware department of MR Group has approximately 380 employees and the company was founded in 1976. Headquartered in Agda, Portugal.

Sales in 2020 are approximately 23 MEUR (approximately 230 MSEK), and the EBIT margin is very high. The acquisition will increase earnings per share from the beginning.

The acquisition is subject to regulatory approval and customary closing conditions, and is expected to be completed in the third quarter of 2021.

For more information, please contact:

Nico Delvo, President and CEO, Tel. No: +46 8 506 485 82

Erik Pieder, Chief Financial Officer and Executive Vice President, phone. No: +46 8 506 485 72

Björn Tibell, head of investor relations, phone. No: +46 70 275 67 68

About ASSA ABLOY

ASSA ABLOY Group is a global leader in access control solutions.The group operates globally, has 48,000 employees, and sells 88 billion Swedish kronorThe group is in a leading position in the fields of efficient door opening, trusted identity and entrance automation. ASSA ABLOY’s innovation enables safe, reliable and convenient access to physical and digital places. Every day, we are helping billions of people experience a more open world.

This information is provided to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-acquires-mr-group-s-hardware-division-in-portugal,c3358865

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Source ASSA ABLOY

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