ASSA ABLOY acquires J Newton Enterprises in the US

STOCKHOLM, Aug. 9, 2022 /PRNewswire/ -- ASSA ABLOY has acquired J Newton Enterprises Inc, a leading pedestrian door distributor and service company in Florida, USA.

"I am very pleased to welcome J Newton Enterprises into the ASSA ABLOY Group. This acquisition delivers on our strategy to reinforce our current offering within entrance automation," says Nico Delvaux, President and CEO of ASSA ABLOY.

"J Newton Enterprises is a key player in the Florida market, strengthening our existing pedestrian business and our service offering in that region, enabling us to provide an even better customer experience," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.

J Newton Enterprises was established in 2003 and has more than 60 employees. The company is headquartered in Inverness, Florida.

Sales for 2021 amounted to about MUSD 16 (approx. MSEK 150) with a good 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

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 51,000 employees and sales of SEK 95 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.

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https://news.cision.com/assa-abloy/r/assa-abloy-acquires-j-newton-enterprises-in-the-us,c3611528

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