STOCKHOLM, Feb. 5, 2018 /PRNewswire/ -- ASSA ABLOY has acquired Dale Hardware and Excel Architectural Hardware through its acquisition of the Progress Ventures Group ("Dale & Excel"). Dale & Excel are the leading suppliers of architectural hardware to builder's merchants in the UK.
"I am very pleased to welcome Dale & Excel into the ASSA ABLOY Group. Dale & Excel offer a comprehensive portfolio of architectural hardware products that effectively complement and extend the ASSA ABLOY offering in the UK and Middle East markets," says Johan Molin, President and CEO of ASSA ABLOY.
"Dale & Excel are an exciting addition to our UK business and I am delighted to welcome their teams into ASSA ABLOY" says Tzachi Wiesenfeld, Executive Vice President of ASSA ABLOY and Head of the EMEA division. "It offers an extensive high quality range of architectural hardware products with a strong track record of innovation. Their portfolio will extend the UNION offering into the commercial market in the UK."
Dale was established in 1974 and has its headquarters near Leeds. The business has approximately 70 employees.
Sales for 2018 are expected to reach around £19 million (approx. SEK 210 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.
For more information, please contact:
President and CEO
Tel. no: +46-8-506-485-42
Carolina Dybeck Happe
CFO and Executive Vice President
Tel. no: +46-8-506-485-72
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 47,000 employees, operations in more than 70 countries and sales of SEK 71 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.
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SOURCE ASSA ABLOY