STOCKHOLM — ASSA ABLOY announces it has acquired LifeSafety Power, a leading supplier of smart integrated access control power solutions for OEMs, integrators and end-users. Financial terms were not disclosed.
“I am very pleased to welcome LifeSafety Power into the ASSA ABLOY Group. LifeSafety Power constitutes a strategic addition to the Group and reinforces our position in access control solutions,” says Nico Delvaux, president and CEO, ASSA ABLOY.
LifeSafety Power was established in 2009 and has some 65 employees. Its main office is located in Libertyville, Ill.
“LifeSafety Power is a great complement to our access control portfolio — we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio,” says Lucas Boselli, executive vice president of ASSA ABLOY and Head of the Americas Division.
Sales for 2019 are expected to reach about USD 30 million with a good EBIT margin and the acquisition will be accretive to EPS from start, according to an announcement.
The deal marks ASSA ABLOY’s first acquisition since it purchased key management provider KEYper Systems in January.
Stay tuned to SSI for more insights on this acquisition.
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