ASSA ABLOY acquires Lawrence Doors in the US
ASSA ABLOY has acquired Lawrence Doors, a US manufacturer of coiling steel doors, grilles and counter shutters.
"I am very pleased to welcome Lawrence Doors into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of ASSA ABLOY.
"With the acquisition of Lawrence Doors, we are set to enter the rapidly growing coiling steel market and establish a strong presence on the US West Coast," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. "This acquisition will also equip us with the expertise and product portfolio needed to better serve our dealers and customers.”
Lawrence Doors was founded in 1925 and has some 120 employees. The main office and factory are located in Baldwin Park, California, USA. Lawrence Doors will be part of the Business Segment Residential within the Entrance Systems Division.
Sales for 2023 amounted to about MUSD 31 (approx. MSEK 320) 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: [email protected]
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 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.
