From the Wires
ASSA ABLOY acquires 4Front in the US
By: Marketwired .
Dec. 27, 2012 02:07 AM
STOCKHOLM, SWEDEN -- (Marketwire) -- 12/27/12 -- ASSA ABLOY has acquired the US company 4Front, leader in docking systems. 4Front offers a complete product range around docking systems as well as a large variety of accessories.
"4Front, with its leading brands, is yet another strategic entry to the important North American market in entrance automation. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 12 billion proforma in 2012", commented Johan Molin, President and CEO of ASSA ABLOY.
"The acquisition of 4Front is a great addition to our growing portfolio of docking systems and adds also strongly to our position in the indirect channel of entrance automation products. 4Front has a strong market position, excellent products and a very experienced organization. We look forward to develop the US and other markets together with the 4Front team", commented Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
The company was founded in 1953 and is based in Carrollton, Texas with operations in USA, Canada, Mexico and India. The company has 750 employees.
Sales for 2012 are expected to reach USD 165 M (SEK 1,100 M). The acquisition will be accretive to EPS from start.
The deal was closed simultaneously with signing on December 24, 2012.
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Source: ASSA ABLOY via Thomson Reuters ONE
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