ASSA ABLOY Strengthens Its Market Position with IDP Acquisition in the US

ASSA ABLOY's Strategic Acquisition of International Door Products

ASSA ABLOY, a global leader in access solutions, has announced its acquisition of International Door Products (IDP), a renowned manufacturer of fire-rated steel door frames based in the United States. This significant move is expected to enhance ASSA ABLOY's product offerings and strengthen its presence in mature markets.

IDP, founded in 1977, specializes in creating both standard and custom door frames, which play a critical role in ensuring safety and security in various constructions. With a workforce of around 80 employees, the firm operates out of its headquarters and manufacturing facility located in Southfield, Michigan.

Nico Delvaux, President and CEO of ASSA ABLOY, expressed his enthusiasm regarding the acquisition, stating, "I am very pleased to welcome IDP to ASSA ABLOY. This acquisition aligns perfectly with our strategy to augment our position in mature markets by integrating complementary products into our existing offerings."

Lucas Boselli, Executive Vice President of ASSA ABLOY and head of the Americas Division, added that welcoming IDP marks an exciting milestone. He emphasized that the acquisition will enable ASSA ABLOY to provide an even broader range of solutions to its customers. IDP's high-quality product range and their efficient lead times will significantly complement ASSA ABLOY’s current capabilities, ensuring that they can swiftly meet the evolving demands of the construction sector with excellence.

For the fiscal year 2024, IDP is projected to generate approximately $29 million in sales, boasting a robust EBIT margin. The integration of IDP is anticipated to be accretive to ASSA ABLOY's earnings per share (EPS) from the outset, highlighting the financial prudence of this strategic maneuver.

In a market where the construction needs are constantly evolving, ASSA ABLOY’s acquisition of IDP underscores its commitment to innovation and customer satisfaction. The company aims to leverage IDP’s strengths to enhance its offerings further, ensuring that it remains a leader in providing efficient door openings and secure access solutions.

As ASSA ABLOY continues to expand its footprint in the North American market, it aims to reinforce its reputation as a leader in access solutions, helping individuals and businesses feel safe and secure. The execution of this merger is poised to set new industry standards for access solutions and safety, thereby influencing the future of the fire-rated door frame market.

As a global enterprise, ASSA ABLOY employs around 63,000 individuals and has sales amounting to SEK 150 billion. The company holds leading positions in numerous sectors, including efficient door openings, trusted identities, and entrance automation. Their innovative approach consistently provides safe, secure, and convenient access to physical and digital spaces, making them a preferred partner for security solutions worldwide.

To find out more about this acquisition and ASSA ABLOY's future strategies, stakeholders and interested parties can reach out to key executives at the company, including Nico Delvaux and Erik Pieder, who are available for inquiries regarding this development.

ASSA ABLOY continues to thrive within the industrial landscape, aiming to push the boundaries of security solutions to ensure a safer, more open world for all.