Nico Delvaux

ASSA ABLOY has signed a definitive agreement to acquire the Hardware and Home Improvement (HHI) division of Spectrum Brands (SPB) for a purchase price of MUSD 4,300 on a cash and debt free basis. Spectrum Brands’ Hardware and Home Improvement (HHI) division is a renowned provider of security, plumbing, and builders’ hardware products to the North American residential segment, with a diversified product offering of locksets, faucets, and builders´ hardware. Hardware and Home Improvement Hardware and Home Improvement has a varied portfolio of innovative products, including patented SmartKey technology Hardware and Home Improvement (HHI) has a varied portfolio of innovative products, including patented SmartKey technology and electronic, smart and biometric locks. Key brands include Kwikset, Baldwin, Weiser, Pfister and National Hardware. HHI has strong, established relationships with a variety of customers, including large home improvement centers, wholesale distributors, home builders, online retail channels and home automation providers. For the fiscal year ending September 2020, HHI’s net sales were MUSD 1,342, with adjusted EBITDA margin of around 19%. HHI is headquartered in Lake Forest, California, with some 7,500 employees worldwide and has manufacturing facilities in the United States of America, Mexico, Taiwan, China and the Philippines. Transformation from mechanical to digital solutions “HHI is an excellent addition to the ASSA ABLOY Group and constitutes an important strategic step in developing our residential business in North America. This acquisition advances our strategy to strengthen our position, by adding complementary products to the core business and it will further accelerate the transformation from mechanical to digital solutions,” said Nico Delvaux, President and Chief Executive Officer (CEO) of ASSA ABLOY. Nico Delvaux adds, “I look forward to welcoming HHI and all of its employees into the ASSA ABLOY Group.” Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division, said “The acquisition of HHI brings strong, well-known brands and high-quality, innovative products to the residential portfolio for ASSA ABLOY in North America, complementing our current business with a passionate and experienced team.” Technology platform and innovation focus Lucas Boselli adds, “Our technology platform and innovation focus supplements HHI’s current offerings and provides an exciting opportunity for us to deliver superior value to consumers.” “After stewarding this asset for the past decade, the Board of Directors and I are confident that ASSA ABLOY is uniquely positioned to take our HHI business and team members to the next level of performance and achievement. I am personally excited to see the innovation and exciting new products that this transaction will unlock for future generations,” said David M. Maura, Executive Chairman and Chief Executive Officer (CEO) of Spectrum Brands Holdings Inc. Background of the HHI acquisition HHI complements ASSA ABLOY, in terms of both product offering and geographic scope ASSA ABLOY has tremendous respect for the achievements of HHI, which is a great company with a proven track record. HHI complements ASSA ABLOY, in terms of both product offering and geographic scope, with well-known brands, a strong culture and values, high quality products and skilled employees, managed by a professional team. HHI constitutes a strategically important step in developing ASSA ABLOY’s residential business in North America, supplementing the company’s strong reputation for innovation on the commercial side. HHI brings a deep knowledge of the residential business and adds complementary products, technology and solutions. Major consumer brands added to portfolio HHI adds established consumer brands in North America, including Kwikset, Baldwin, Weiser, Pfister and National Hardware, to our brand portfolio. ASSA ABLOY can bring technological innovation to consumers, which are using HHI’s access to new retail channels, such as home builders and DIY retail. HHI’s large installed base and great consumer reputation provides an excellent opportunity, to grow their electro-mechanical and digital access solutions. HHI has a long track record of innovation, especially within SmartKey technology, which will complement ASSA ABLOY´s offering. ASSA ABLOY expects strong synergies, the largest components being their increased product offering, advances in technology, distribution and procurement. The EBIT synergies are expected to reach around MUSD 100 in 2025. Focus on residential space in North America HHI focuses on the residential space in North America, which is highly attractive, underpinned by favorable macro trends, such as recent strong home sales, housing starts, an aging housing stock and increased consumer focus on home repair and re-modeling. HHI will become part of the Opening Solutions Americas Division of ASSA ABLOY. Financing of the acquisition and financial terms ASSA ABLOY maintains its commitment to a strong investment grade credit rating profile The transaction will be fully funded by existing cash and new debt. ASSA ABLOY maintains its commitment to a strong investment grade credit rating profile. The total consideration for the acquisition of HHI amounts to MUSD 4,300, on a cash and debt free basis. For the fiscal year ending September 2020, HHI’s net sales were MUSD 1,342, with adjusted EBITDA margin of around 19%. Based on publicly available financial information for 2020, for both HHI and ASSA ABLOY, the acquisition of HHI will add around 14% to ASSA ABLOY´s consolidated sales. The operating margin effect for ASSA ABLOY is initially expected to be dilutive. The acquisition will be accretive to EPS from the start. Total purchase price of MUSD 4,300 reflects a multiple of 14x expected fiscal year 2021 (30 September), adjusted EBITDA of the HHI segment. The purchase price net of the present value of tax benefits represents a multiple of approximately 10x adjusted EBITDA, including synergies. Conditions for the transaction The transaction is conditional upon regulatory approval and customary closing conditions, and is expected to close during the fourth quarter of 2021. ASSA ABLOY has agreed to pay a termination fee of MUSD 350 in certain circumstances, if the transaction agreement would be terminated and required regulatory approvals would not have been obtained. ASSA ABLOY is being advised by BofA Securities as exclusive financial advisor, and Linklaters LLP and Hogan Lovells as legal advisors. A conference call will be held at 08:00 am (CET), on Thursday, September 9, 2021. During the conference call, ASSA ABLOY´s President and Chief Executive Officer (CEO) - Nico Delvaux, the Chief Financial Officer (CFO) - Erik Pieder and the Head of the Americas Division - Lucas Boselli will describe the acquisition and respond to questions related to the transaction deal. 

ASSA ABLOY has acquired Omni-ID, a manufacturer of RFID tags and industrial IoT hardware devices for passive and active tagging, tracking, monitoring, and alerting applications, based in the US. "I am very pleased to welcome Omni-ID into the ASSA ABLOY Group. Omni-ID is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID and IoT offering and provides complementary growth opportunities,” says Nico Delvaux, President, and CEO of ASSA ABLOY. Expanding IoT technologies “In addition to broadening our value-added RFID components and active identification devices offering, the acquisition enhances our ability to serve customers in India and China by expanding our sales and manufacturing footprint, an important step in extending our industrial IoT technology into emerging markets,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global. Omni-ID was founded in 2007 and has some 170 employees. Based in Rochester, New York, it will be part of HID’s Identification Technologies Business Area. Sales in 2020 amounted to about MUSD 13 (approx. MSEK 110) and the acquisition will be dilutive to EPS from the start.

ASSA ABLOY acquires Capitol Door Service, a pedestrian door distributor, and service company in California, Nevada, and Arizona. "I am very pleased to welcome Capitol Door Service into the ASSA ABLOY Group. I welcome this complementary addition, specializing in entrance automation, to our business,” says Nico Delvaux, President, and CEO of ASSA ABLOY. Strong market position “Capitol Door Service with its strong market position will further strengthen our geographic coverage in Western U.S. I welcome the team to ASSA ABLOY and I am convinced that we will continue together our successful journey,” says Markus Kast, Head of Entrance Systems Business Segment Pedestrian. Capitol Door Service was founded in 1999 and has some 50 employees. The company is headquartered in Sacramento, California. Sales in 2020 amounted to about MUSD 17 (approx. MSEK 150) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

ASSA ABLOY has signed an agreement to sell its Nordic locksmith business CERTEGO to Nalka Invest, which invests in small- and medium-sized businesses primarily in the Nordic region. This transaction reinforces the strategic focus on the core security solutions business of the ASSA ABLOY Opening Solutions EMEIA Division. CERTEGO is a pioneer locksmith and security solutions installation business in the Nordic region. It provides planning, installation, and managing of mechanical, electro-mechanical, and electronic security solutions for customers across multiple verticals. Security solutions installation market CERTEGO has a network of around 70 locations with some 1,200 employees in Sweden, Finland, Norway, and Denmark. The impact from the divestment on ASSA ABLOY external sales is around SEK 1.5 bn. "I find it satisfying that with Nalka Invest we were able to find a committed, experienced owner that gives the business a new home and creates new opportunities for the future,” says Nico Delvaux, President and CEO of ASSA ABLOY. The impact from the divestment on ASSA ABLOY external sales is around SEK 1.5 bn “Recent trends in the security solutions installation market, including the growing need to offer a comprehensive range of different solutions, has led us to reconsider the merits of continued ownership of CERTEGO. We have concluded that a divestment would allow EMEIA to focus resources in its core business.” Customary closing conditions “I am confident that Nalka Invest will take CERTEGO to the next level as part of their business transformation and wish them and the CERTEGO team every success in their future endeavors,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division. The transaction will have a positive effect on ASSA ABLOY´s operating margin going forward. The divestment will result in a capital loss and exit costs amounting to approximately MSEK 200. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.

ASSA ABLOY has signed an agreement to acquire MR Group's hardware division, a supplier of aluminum profile hardware and locks in Portugal. Portfolio expansion "I am very pleased to welcome the MR Group hardware division into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President, and CEO of ASSA ABLOY. "We are committed to growing our mechanical core business and the acquisition of the MR Group hardware division will help us drive that through expanding our product portfolio and improving our regional footprint,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division. Acquisition approvals                                         MR Group's hardware division has some 380 employees, and the company was established in 1976. The main office is located in Águeda, Portugal. Sales for 2020 amounted to about 23 MEUR (approx. 230 MSEK) with a good EBIT margin. The acquisition will be accretive to EPS from start. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.

ASSA ABLOY has acquired Sure-Loc, a supplier of residential locks and associated hardware in the US. "I am very pleased to welcome Sure-Loc into the ASSA ABLOY Group. This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President, and CEO of ASSA ABLOY. To grow residential business "The acquisition of Sure-Loc complements our mechanical hardware portfolio, supporting our ambitions to grow our residential business in the US," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. “Sure-Loc’s reputation for quality products and excellent customer service reflect our values and I’m excited for them to become part of ASSA ABLOY.”

ASSA ABLOY has invested in Paravision, an advanced facial recognition solutions provider, and is recognized for its world-class leadership in accuracy. Facial recognition solution "The investment in Paravision is a strategic technological investment for the ASSA ABLOY Group and will accelerate the development of biometric solutions that leverage facial recognition algorithms and provide complementary growth opportunities,” says Nico Delvaux, President, and CEO of ASSA ABLOY. “In partnership, HID and Paravision have already cooperated on projects and we look forward to further advancing our collaboration across a number of different markets and use cases,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global. Secure user experience The investment aligns with HID Global’s strategic direction to embed facial recognition into solutions for a seamless and highly secure user experience in a variety of identity verification and authentication applications, including access control.

ASSA ABLOY, the globally renowned company in access solutions, has published its Sustainability Report 2020. During the 2015-2020 period, the ASSA ABLOY Group successfully completed its sustainability program and exceeded the majority of the targets set for health and safety, energy, water and materials efficiency, while also reducing waste generated. A new ambitious sustainability program has been set for 2025. New sustainability program Sustainability is vital to economic and industrial development, and it is a strategic priority for ASSA ABLOY" The new program builds on the momentum and progress from the Group’s successive five-year sustainability programs. The new program has raised ambition level across all indicators and complements ASSA ABLOY’s long-term climate commitment to halve emissions by 2030 and reach net-zero emissions by 2050. “Sustainability is vital to economic and industrial development, and it is a strategic priority for ASSA ABLOY. Overall, I am proud of the progress we have made in sustainability, against our targets to 2020,” said Nico Delvaux, President and CEO ASSA ABLOY. Commitment to reduce 50% emissions by 2030 Nico adds, “Though we still have a lot to do, we are on a journey and our new ambitious targets to 2025 and long-term climate commitment to halve our emissions by 2030, and be net-zero by 2050, will be our roadmap. This demonstrates our willingness to lead our industry to a more sustainable future, and will further improve our competitiveness with more sustainable products, solutions and operations.” Sustainability Program 2020-2025 Operations -25% Carbon footprint – absolute -25% Energy intensity (MWh/SEK M) -25% Water intensity (m3/SEK M) -25% Hazardous waste intensity (kg/SEK M) -50% Organic solvents intensity (kg/SEK M) 100% ISO 14001 – % sites certified in reporting scope Supply Management 95% Supplier sustainability audits (% of direct material spend in identified risk countries) 95% Business Partner Code of Conduct (% of direct & indirect material spend) People 33% Injury rate (number of injuries per million hours worked) 33% Injury lost day rate (number of lost days related to injuries per million hours worked) 30% Gender diversity (% of females in management positions) The baseline year for the new targets is 2019, as 2020 is not a representative year, due to the global COVID-19 pandemic and its wide spread effects. Interested parties can read more about the ASSA ABLOY Group’s sustainability programs and KPIs in their sustainability report. Commitment to science-based targets initiative In October 2020 ASSA ABLOY announced that the Group is committing to set science-based targets to further substantially reduce greenhouse gas emissions across the entire value chain. The ASSA ABLOY Group will set targets that are aligned to the Paris Agreement, limiting global temperature rise to 1.5°C, by halving emissions by 2030 and reaching net-zero emissions by 2050.

ASSA ABLOY has acquired the textile services business of Invengo Information Technology Co., Ltd, a globally renowned real-time inventory management platform that combines software, RFID tags, equipment and services, to efficiently identify, track and monitor linen and textile assets. Strategic technological acquisition “Invengo Textile Services is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within the global RFID ecosystem. The acquisition of Invengo Textile Services enhances the Group’s position within smart components and will provide complementary growth opportunities,” said Nico Delvaux, President and CEO of ASSA ABLOY. “The addition of Invengo Textile Services to HID’s portfolio underscores our leadership position as solution enabler in the RFID market, particularly in the fast-growing commercial laundry sector,” said Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global. Invengo Textile Services (formerly Tagsys) was founded in 1993 and has some 45 employees. Based in La Ciotat, France, it will be part of HID’s Identification Technologies Business Area. Sales in 2020 amounted to about MEUR 11 (approx. MSEK 110) and the acquisition will be neutral to EPS from start.

ASSA ABLOY has acquired Technology Solutions (TSL) in the UK, a global provider of radio frequency identification (RFID) handheld readers. TSL designs, develops and manufactures ruggedized mobile RFID readers and other multi-technology, mobile device peripherals used to identify and track products and assets. "I am very pleased to welcome TSL into the ASSA ABLOY Group. TSL is a strategic technological addition to the ASSA ABLOY Group and reinforces our current RFID offering and provides complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Broad RFID portfolio “The acquisition of TSL expands HID’s broad RFID portfolio with proven hardware and integration tools that extend our leadership in identification technologies,” says Björn Lidefelt, Executive Vice President and Head of Global Technologies business unit HID Global. TSL was founded in 1994 and has some 25 employees. The main office is located in Loughborough, UK. Sales in 2020 amounted to about MGBP 3 (approx. MSEK 30) with a good EBIT margin and the acquisition will be accretive to EPS from start.

ASSA ABLOY has sold its Italian residential door business within Gardesa to Italy-based Bertolotto and is in the final stages to sell its remaining shutter business. Gardesa is an Italian manufacturer of residential security doors and roller shutters, headquartered in Cortemaggiore, Italy with around 70 employees. The company’s total sales in 2020 was approximately 10 MEUR (approx. 100 MSEK). "Bertolotto will provide Gardesa and its employees and customers with extensive experience and commitment. This will create new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of ASSA ABLOY. Business transformation "Gardesa has been one of our well-known brands in Italy, and I have personally spent some time with the team over the years and thank them for their contribution. I am confident that Bertolotto will take Gardesa to the next level as part of their business transformation and wish them every success in their future endeavors,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEA Division. The transaction will have a positive effect on ASSA ABLOY's operating margin. The divestiture resulted in a capital loss and exit costs amounting to 18 MEUR (approx. 185 MSEK) booked during Q4 2020. The divestiture of the shutter business is expected to be completed during the first quarter of 2021.

ASSA ABLOY has announced acquiring Olimpia Hardware, renowned glass hardware and accessories brand in Latin America and the Caribbean. "I am very pleased to welcome Olimpia into the ASSA ABLOY Group. This constitutes an important next step in our strategy to grow market leadership in emerging markets,” said Nico Delvaux, President and Chief Executive Officer (CEO) of ASSA ABLOY. Acquisition of Olimpia Hardware "The addition of Olimpia complements our business in Latin America, further supporting the growing trend of openings utilizing glass and aluminum products," said Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. Olimpia Hardware was established in 1999 and serves Latin America and the Caribbean regions. ASSA ABLOY will continue to sell Olimpia branded products across the region. Sales for 2019 amounted to about 13 MUSD (approx. 125 MSEK) with a good EBIT margin. The acquisition will be accretive to EPS from start.

ASSA ABLOY has signed an agreement to sell its sensor technology business firm, CEDES in Switzerland to capiton AG. Sensor technology solutions major CEDES is a globally renowned sensor technology company in the elevators and door solutions business. The company was established in 1986 and has approximately 320 employees. The company is headquartered in Landquart, Switzerland. "I find it very satisfying that with capiton AG, CEDES and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” said Nico Delvaux, President and CEO of ASSA ABLOY. Expanding elevator sensors business "CEDES now has the investment and expertise to grow and expand its core business of elevator sensors, allowing us to focus our resources on our core business of automated doors,” said Christopher Norbye, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. He adds, “CEDES is a well-performing business with high quality products, and we will continue to partner with the company as a preferred external supplier.” The transaction will have a neutral effect on ASSA ABLOY's operating margin. The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2020.

The purchase price for the Acquisition amounts to approximately EUR 506 million, equivalent to an adjusted purchase price per agta record share of EUR 70.54. The Acquisition is expected to close during August 2020. After the Acquisition ASSA ABLOY will own approximately 93% of the share capital and voting rights of agta record. As previously announced, ASSA ABLOY has entered into agreements with Italy-based FAAC Group for the sale of certain agta record and ASSA ABLOY businesses, as part of the commitments to address the competition concerns of the EU Commission in connection with the Acquisition (the “Divestiture”). Strategic addition "I look forward to finally welcoming agta record and all of its employees into the ASSA ABLOY Group. I am convinced ASSA ABLOY will be a good home for agta record, which is a strategic addition to the Group and will bring important competence, products and services. I am also glad that the divested businesses, with its employees and customers, will be in good hands and I wish them future success,” says Nico Delvaux, President and CEO of ASSA ABLOY. "Following a long acquisition journey we are happy to be near the end of the process. agta record brings the well-known brand “record”, a strong culture, high-quality products and a very strong workforce and management. We can now turn our focus to the many opportunities this acquisition will bring,” says Christopher Norbye, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. Simplified tender offer Immediately after the Acquisition, ASSA ABLOY will file a proposed simplified public tender offer for the remaining outstanding shares of agta record, listed on Euronext Paris, at an adjusted price of 70.54 EUR per agta record share (the “Offer”). The Offer is subject to the AMF’s prior regulatory approval. agta record will also apply for the delisting of its shares from Euronext Paris immediately after the Acquisition. Subject to the Euronext Paris approval, the delisting will become effective shortly after the closing of the Offer. Financial effects for ASSA ABLOY The purchase price for the Acquisition amounts to approximately EUR 506 million, equivalent to an adjusted purchase price per agta record share of EUR 70.54. Assuming all the free float will be tendered to the Offer, the total amount paid for the Acquisition and the Offer amounts to approximately EUR 575 million. Based on external financial information for 2019 for both agta record and ASSA ABLOY, the acquisition of agta record adds around 4% to ASSA ABLOY’s consolidated revenue, excluding the Divestiture. The operating margin effect for ASSA ABLOY will be dilutive and the acquisition accretive to EPS from start, based on agta record´s financial performance in 2019. As part of the transaction, the existing 39% ownership in agta record held by ASSA ABLOY, a shareholding in associates, will be revalued at fair value through the income statement at closing. The expected non-cash income in EBIT amounts to around SEK 2 billion.

ASSA ABLOY has signed an agreement to acquire FocusCura, a provider of technology solutions for senior care in the Dutch market. FocusCura has developed a software platform, which in combination with other products and technology services, enables elderly care organizations to focus on care. "I am very pleased to welcome FocusCura and their employees into the ASSA ABLOY Group. FocusCura is a strategic technological addition to the ASSA ABLOY Group. The company will reinforce our current offering within Senior Care and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Digital solutions for care providers “FocusCura is a true innovator in digital solutions for care providers and senior people. The FocusCura offering is a good fit with our solutions in Phoniro and together we will continue to support people to stay independent for longer and live enriched lives,” says Christophe Sut, Executive Vice President and Head of Global Technologies business unit Global Solutions. FocusCura was founded in 2003 and the main office is located in Driebergen-Rijsenburg, Netherlands. The acquisition will be dilutive to EPS from start. The acquisition is expected to close during the third quarter of 2020.

ASSA ABLOY has received phase one conditional clearance by the EU Commission for ASSA ABLOY, as a 39% shareholder in the Swiss company Agta Record, to indirectly acquire the 54% shareholding in Agta Record from the shareholders of Agta finance (the “Acquisition”). Closing of the Acquisition is expected in the second half of 2020 after all remaining closing conditions and the EU Commission requirements have been fulfilled. Agta Record "Receiving the EU Commission´s approval is an important step towards completing the acquisition of Agta Record, and we look forward to welcoming the Agta Record people to our Group. This is a strategic addition to the ASSA ABLOY Group and will bring important competence, products and services to the Group,” says Nico Delvaux, President and CEO of ASSA ABLOY. During the approval process in Europe ASSA ABLOY has made commitments to address the competition concerns of the EU Commission, including entering into binding agreements for the sale of certain Agta Record and ASSA ABLOY businesses to third parties. After the Acquisition, ASSA ABLOY will own approximately 93% of the share capital and voting rights of Agta Record The commitments include the divestiture of the Agta Record operations in the Netherlands, Austria, Hungary and Slovenia as well as the ASSA ABLOY automatic pedestrian door business in France and the UK. In addition, Agta Record´s high-speed door business in France will be divested. Creating opportunities for the future It is important that the divested businesses get a committed and experienced owner that gives them a new home and creates opportunities for the future. These divestments represent about 20% of total initial added revenue. Despite these divestments, however, the majority of the identified synergies between ASSA ABLOY and Agta Record will be realized. As previously announced, after the Acquisition ASSA ABLOY will own approximately 93% of the share capital and voting rights of Agta Record and will shortly thereafter launch a public tender offer for the remaining outstanding shares of Agta Record, listed on Euronext Paris, at a price of 70 EUR per Agta Record share, subject to the fairness opinion of the independent appraiser to be appointed by Agta Record and to the AMF´s clearance decision.

ASSA ABLOY has acquired Biosite Systems, a globally renowned solutions provider of biometric access control to the UK construction industry. "I am very pleased to welcome Biosite and their employees into the ASSA ABLOY Group. Biosite is a strategic technological addition to the ASSA ABLOY Group. The company will reinforce our current offering within solutions for access control and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Biometric access management solutions expert “Biosite offers biometric access- and workforce management solutions to the construction sector; maximizing security and safety while providing full visibility to material-, design plans- and people flow on the construction site. Combining hardware, software and services the company is a very good fit with ASSA ABLOY Global Solutions,” says Christophe Sut, Executive Vice President and Head of Global Technologies business unit Global Solutions, ASSA ABLOY. Biosite was founded in 2010, has some 140 employees and the main office is located in Solihull, United Kingdom. Sales in 2019 amounted to about GBP 14 million (approx. SEK 175 million) and the acquisition will be dilutive to EPS from start.

HID Global, a worldwide provider of trusted identity solutions, announces Bjorn Lidefelt has been named President and CEO. Bjorn joins the company after serving as Chief Commercial Officer (CCO) at HID parent company ASSA ABLOY, where he oversaw branding, communications, commercial development and strategy. He also has extensive experience in international sales and marketing, having spent more than nine years in Asia Pacific markets including China and Malaysia. Delivering industry-leading solutions “Bjorn has had a very successful journey with our organization, and will bring a wealth of experience and perspective from various roles and markets to HID,” said Nico Delvaux, President and CEO of ASSA ABLOY. Bjorn holds a Master of Science degree in Industrial Engineering and Management from the University of Linkoping, Sweden, majoring in computer science and marketing. He succeeds Stefan Widing, who led HID Global for over four years. “I look forward to leading a dedicated and talented global workforce focused on delivering industry-leading solutions to governments, universities, hospitals, financial institutions and some of the most innovative companies on the planet to create trusted physical and digital places,” Bjorn added.

ASSA ABLOY has signed an agreement to acquire AM Group, an Australian industrial door company within entrance automation. "I am very pleased to welcome AM Group and their employees into the ASSA ABLOY Group. I welcome this complementary addition to our business, specializing in innovative entrance automation,” says Nico Delvaux, President and CEO of ASSA ABLOY. Rolling steel doors and bi-fold doors “AM Group complements both our product offering and our geographic coverage in Australia. By adding their strong product portfolio, which includes rolling steel doors and bi-fold doors, to ASSA ABLOY’s commercial network, technologies and competences, we will continue our successful journey,” says Mogens Jensen, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. AM Group was founded in Australia in 1923 and has 425 employees. The head office is located in Sydney, Australia. Sales for 2019 are expected to reach about AUD 120 million (approx. SEK 800 million) with a good EBIT margin and the acquisition will be accretive to EPS from the start. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the first quarter of 2020.

ASSA ABLOY has signed an agreement to acquire LUX-IDent, a renowned provider of radio frequency identification (RFID) components based in the Czech Republic. "LUX-IDent is a strategic technological addition to the ASSA ABLOY Group. The company reinforces our current offering within RFID components. The acquisition of LUX-IDent considerably enhances the Group's position within smart components and will provide complementary growth opportunities,” says Nico Delvaux, President and CEO of ASSA ABLOY. Extending RFID technology “Our proven leadership in RFID technology positions HID as a premier source of components for a wide variety of RFID use cases and IoT applications. The acquisition of LUX-IDent further optimizes our portfolio with more ways to offer customization in both large and small volume projects,” says Stefan Widing, Executive Vice President and Head of HID Global. “Expanding our presence in Central and Eastern Europe with LUX-IDent will further enhance HID’s ability to serve customers locally while extending our RFID technology into emerging markets.”  Subject to regulatory approval LUX-IDent was founded in 2002 and has some 145 employees. The main office is located in Lanškroun, Czech Republic. Sales for 2019 are expected to reach about CZK 440 million (approx. SEK 180 million) and the acquisition will be neutral to EPS from start. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the fourth quarter of 2019.