#USA #ASSA ABLOY #Security Solutions #Norshield #Montgomery

ASSA ABLOY Expands Security Footprint with Norshield Acquisition

In a strategic move aimed at enhancing its presence in the security products sector, ASSA ABLOY, a leader in access solutions, announced its acquisition of Norshield Security Products, a prominent US manufacturer known for its high-security openings and enclosures.

Strengthening Market Position

Nico Delvaux, President and CEO of ASSA ABLOY, expressed his enthusiasm about the acquisition, stating, "I am very pleased to welcome Norshield into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets by adding complementary products and solutions to our core business." This strategic decision marks a significant step in ASSA ABLOY's ongoing mission to enhance its product portfolio in high-security solutions.

Norshield, which has been operational since 1981 and is based in Montgomery, Alabama, employs around 70 individuals. The company is well-regarded for its focus on producing certified ballistic, attack, and blast-resistant products, which aligns perfectly with ASSA ABLOY's current high-security door offerings.

Lucas Boselli, Executive Vice President for ASSA ABLOY and Head of the Americas Division, also commented on the acquisition, recognizing Norshield's reputation for high-quality, innovative products and exceptional customer service. He noted, "Norshield's exemplary reputation for high-quality products reflects our values, and I am excited for them to join ASSA ABLOY." This collaborative synergy is expected to enhance ASSA ABLOY's expertise in the growing high-security market while allowing both companies to benefit from shared knowledge and resources.

Financial Implications

The acquisition, finalized with annual sales for Norshield estimated at around USD 16 million (approximately SEK 170 million), is expected to be accretive to earnings per share (EPS) from day one. ASSA ABLOY's robust financial infrastructure will ensure that Norshield’s innovative capabilities are well supported, fostering continued growth and development within the security space.

The strategic acquisition resonates with ASSA ABLOY's broader goals, aiming to provide cutting-edge security solutions while addressing the increasing demand for high-security products in various sectors.

About ASSA ABLOY

ASSA ABLOY is globally recognized for its innovations and leadership in access solutions, with approximately 61,000 employees and annual sales reaching SEK 141 billion. The Group is renowned for its advancements in efficient door openings, trusted identities, and entrance automation, continually striving to offer safe and convenient access to both physical and digital environments. Through collaborations and acquisitions, ASSA ABLOY helps billions of people experience a more open world.

As the company integrates Norshield into its operations, it remains committed to upholding the highest standards in security solutions, ensuring that customers receive unparalleled support and products designed to meet their unique needs in this critical area of security.

For additional information, industry stakeholders and media representatives can connect with company representatives including Nico Delvaux at tel. no +46 8 506 485 82, or Erik Pieder at +46 8 506 485 72.