ASSA ABLOY acquires Leone Fence in Canada

Rhea-AI Summary

ASSA ABLOY (ASAZY) has acquired Leone Fence, a Canadian manufacturer, distributor, and installer of fencing products for commercial and residential applications. The acquisition aims to strengthen ASSA ABLOY's perimeter security offering in the Canadian market. Leone Fence, founded in 1975, has approximately 60 employees and reported sales of [Sales for 2022] in Ontario, Canada.

STOCKHOLM, Dec. 5, 2023 /PRNewswire/ -- ASSA ABLOY has acquired Leone Fence, a Canadian manufacturer, distributor and installer of fencing products for commercial and residential applications.

"I am very pleased to welcome Leone Fence into the ASSA ABLOY Group. This acquisition reinforces our current offering within perimeter security in the Canadian market," says Nico Delvaux, President and CEO of ASSA ABLOY.

"The acquisition of Leone Fence presents an exciting opportunity within our Perimeter Security offering. By combining our core competencies, we can strengthen our ability to quickly enter the market, develop new products, and expand our overall presence in the Canadian market," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

Leone Fence was founded in 1975 and has some 60 employees. The main office and factory are located in Ontario, Canada.

Sales for 2022 amounted to about MCAD 39 (approx. MSEK 300) with a strong EBIT-margin. The acquisition will be accretive to EPS from the start.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72               
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

 

The following files are available for download:

https://mb.cision.com/Main/7333/3888101/2473935.pdf	Press release (PDF)
https://news.cision.com/assa-abloy/i/leone-fence-image,c3245954	Leone Fence image

 

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-leone-fence-in-canada-302005595.html

SOURCE CISION AB

FAQ

What did ASSA ABLOY acquire?

ASSA ABLOY acquired Leone Fence, a Canadian manufacturer, distributor, and installer of fencing products for commercial and residential applications.

What is the ticker symbol for ASSA ABLOY?

The ticker symbol for ASSA ABLOY is ASAZY.

Where is Leone Fence located?

Leone Fence is located in Ontario, Canada.

How many employees does Leone Fence have?

Leone Fence has approximately 60 employees.

When was Leone Fence founded?

Leone Fence was founded in 1975.

What were the sales of Leone Fence in 2022?

The sales for Leone Fence in 2022 amounted to [Sales for 2022].