November 30, 2021

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ASSA ABLOY acquires Funds Doorway Services in the US

STOCKHOLM, Aug. 11, 2021 /PRNewswire/ — ASSA ABLOY has acquired Funds Door Assistance, a main pedestrian doorway distributor and company corporation in California, Nevada and Arizona.

“I am very happy to welcome Funds Doorway Assistance into the ASSA ABLOY Group. I welcome this complementary addition, specializing in entrance automation, to our business,” claims Nico Delvaux, President and CEO of ASSA ABLOY.

“Funds Door Company with its potent current market position will additional improve our geographic coverage in Western U.S. I welcome the workforce to ASSA ABLOY and I am persuaded that we will keep on jointly our successful journey,” suggests Markus Kast, Head of Entrance Methods enterprise section Pedestrian.

Cash Doorway Assistance was launched in 1999 and has some 50 workers. The enterprise is headquartered in Sacramento, California.

Revenue in 2020 amounted to about MUSD 17 (approx. MSEK 150) with a fantastic EBIT margin. The acquisition will be accretive to EPS from the commence.

For far more information and facts, make sure you speak to:

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

About ASSA ABLOY

The ASSA ABLOY Group is the world chief in entry answers. The Group operates throughout the world with 48,000 staff and income of SEK 88 billion. The Group has top positions in parts this sort of as effective door openings, trustworthy identities and entrance automation. ASSA ABLOY’s improvements help secure, secure and practical access to physical and digital destinations. Every single day, we help billions of individuals expertise a additional open up planet.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-acquires-money-doorway-service-in-the-us,c3394502

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