ASSA ABLOY has acquired Leone Fence, a Canadian manufacturer, distributor and installer of fencing products for commercial and residential applications.
"I am very pleased to welcome Leone Fence into the ASSA ABLOY Group. This acquisition reinforces our current offering within perimeter security in the Canadian market," says Nico Delvaux, President and CEO of ASSA ABLOY.
"The acquisition of Leone Fence presents an exciting opportunity within our Perimeter Security offering. By combining our core competencies, we can strengthen our ability to quickly enter the market, develop new products, and expand our overall presence in the Canadian market," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.
Leone Fence was founded in 1975 and has some 60 employees. The main office and factory are located in Ontario, Canada.
Sales for 2022 amounted to about MCAD 39 (approx. MSEK 300) with a strong EBIT-margin. The acquisition will be accretive to EPS from the start.
