#United States #ASSA ABLOY #Premier Steel #Monroe #Acquisitions

ASSA ABLOY Expands Business with the Acquisition of Premier Steel Doors

In a strategic move to bolster its market presence in the United States, ASSA ABLOY has officially acquired Premier Steel Doors and Frames, a prominent manufacturer known for its high-quality hollow metal doors, frames, and other metal building solutions. This acquisition marks a significant step in ASSA ABLOY's ongoing strategy to enhance its offerings in established markets with complementary products and solutions.

Acquisition Details

The announcement came on December 2, 2024, with ASSA ABLOY's President and CEO, Nico Delvaux, expressing excitement about this significant addition to their portfolio. Premier Steel, founded in 1964 and based in Monroe, Louisiana, employs around 90 people and generated sales of approximately USD 40 million in 2023, showcasing a strong EBIT margin. Delvaux remarked, "I am very pleased to welcome Premier into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business."

Strategic Benefits

Lucas Boselli, Executive Vice President and Head of the Americas Division at ASSA ABLOY, echoed Delvaux's sentiments, stating, "Premier is a well-known and respected steel door and frame manufacturer, and I'm excited for them to join our division." He also noted how this move would significantly complement ASSA ABLOY's existing product lines and strengthen its presence in the southern U.S. market, effectively enhancing their expertise in solutions related to metal buildings.

This acquisition not only diversifies ASSA ABLOY's offerings but also integrates Premier Steel's established reputation and market knowledge into the ASSA ABLOY ecosystem. As the global leader in access solutions, ASSA ABLOY aims to provide safer and more convenient access for billions of people worldwide, making such acquisitions critical to its mission.

Future Outlook

The acquisition is anticipated to be accretive to earnings per share (EPS) from the outset, indicating a positive growth trajectory for both companies involved. ASSA ABLOY, boasting a workforce of over 61,000 employees and annual sales amounting to SEK 141 billion, continues to pursue growth strategies focused on innovation and expansion within the access solutions market.

As the demand for quality building solutions rises, this acquisition aligns well with the market trend, providing ASSA ABLOY with an edge in delivering effective, durable solutions for metal construction. The team at ASSA ABLOY is now keen on leveraging Premier's capabilities to enhance service delivery and maintain high-quality standards in product offerings.

With Premier Steel added to its portfolio, ASSA ABLOY is poised to further solidify its leadership in the global market for access solutions. As the company progresses, it will seek to utilize synergies created from this acquisition to explore new opportunities, fulfilling its commitment to provide safe and secure access solutions across diverse sectors.