ASSA ABLOY Expands Its Presence in Canada with Acquisition of Wallace & Wallace

ASSA ABLOY Expands Its Footprint in Canada

In a strategic move to solidify its position in the North American market, ASSA ABLOY, a leader in access solutions, has completed its acquisition of Wallace & Wallace and Wallace Perimeter Security. This acquisition not only brings a rich legacy of over 75 years of experience in perimeter security and fencing solutions but also opens new avenues for product offerings across residential and commercial sectors.

A Promising Addition to the Portfolio

Founded in 1946 and based in Winnipeg, Manitoba, Wallace & Wallace has built a solid reputation as a manufacturer, distributor, and installer of perimetric fencing and gate solutions. With a workforce of approximately 160 employees dedicated to high-quality service and innovation, the company aligns well with ASSA ABLOY's vision of delivering enhanced security solutions.

Nico Delvaux, President and CEO of ASSA ABLOY, expressed enthusiasm about the acquisition, stating, "I am very pleased to welcome Wallace & Wallace into the ASSA ABLOY Group. This acquisition fulfills our strategy to enhance our foothold in mature markets by integrating complementary products into our existing offerings."

This collaboration aims to boost ASSA ABLOY's perimeter security portfolio significantly. Executive Vice President Massimo Grassi remarked, "Acquiring Wallace & Wallace complements our current offerings and allows us to introduce new product lines to both our existing clientele and new customers. We’re excited to bolster our presence in Canada, especially Central Canada, maximizing value for our stakeholders."

Financial Insights

In terms of financial performance, Wallace & Wallace recorded impressive sales figures in 2024, generating around CAD 57 million (approximately SEK 440 million) with a strong EBIT margin. The strategic acquisition is poised to be accretive to ASSA ABLOY's earnings per share (EPS) immediately, reinforcing shareholder confidence.

ASSA ABLOY, recognized globally for its innovative access solutions, has built its legacy on providing secure and convenient entry systems across multiple sectors. With this acquisition, the company continues to expand its portfolio, offering customers a range of advanced security solutions powered by decades of expertise.

Looking Ahead

This acquisition represents a pivotal step in ASSA ABLOY's growth strategy, not just by enlarging its product suite but by strengthening its distribution capabilities within Canada. The impending synergy between ASSA ABLOY and Wallace & Wallace is expected to yield enriched customer experiences through expanded product access and enhanced support services.

As ASSA ABLOY embraces this new chapter, the integration of Wallace & Wallace will undoubtedly foster innovation and deliver significant benefits to existing and prospective customers alike, further establishing the company as a frontrunner in the global security market.

In conclusion, the acquisition of Wallace & Wallace signifies more than just a business transaction; it marks a substantial commitment to advancing security solutions in Canada and reflects ASSA ABLOY's long-term vision of a safer and more secure world.

For media inquiries, ASSA ABLOY representatives, including Nico Delvaux and CFO Erik Pieder, are available for contact, showcasing the company's commitment to transparency and communication with stakeholders during this transformative period.