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ASSA ABLOY acquires Lighthouse in the U.S.
Stockholm March 15 - ASSA ABLOY has acquired Lighthouse, a sectional door and docking distributor in North Carolina, South Carolina, and Tennessee.
"I am very pleased that Lighthouse is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group’s leadership in entrance automation, where our sales have grown from SEK 3 billion in 2008 to SEK 18 billion in 2015”, says Johan Molin, President and CEO of ASSA ABLOY.
"Lighthouse is a strategic step for us in the USA and we welcome the entire team to ASSA ABLOY Entrance Systems”, says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
Lighthouse was established in 1994 and has some 150 employees. The company is headquartered in Charlotte, North Carolina.
Sales for 2016 are expected to reach USD 41 million (approx. SEK 350 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.
About ASSA ABLOY
ASSA ABLOY is the global leader in door opening solutions, dedicated to satisfying end-user needs for security, safety and convenience. Since its formation in 1994, ASSA ABLOY has grown from a regional company into an international group with about 46,000 employees, operations in more than 70 countries and sales of SEK 68 billion. In the fast-growing electromechanical security segment, the Group has a leading position in areas such as access control, identification technology, entrance automation and hotel security.