ASSA ABLOY has expanded its presence in the UK by acquiring NSP Security, a company known for its expertise in the design, manufacturing, and installation of access control solutions, particularly within the student accommodation sector.
Strategic Addition to ASSA ABLOY
Highlighting the strategic significance of this acquisition, Nico Delvaux, President and CEO of ASSA ABLOY, remarked, "I am very pleased to welcome NSP into ASSA ABLOY, an exciting technological addition that will reinforce our current offering within the hospitality business, and provide complementary growth opportunities."
Stephanie Ordan, Executive Vice President and Head of Global Technologies business unit Global Solutions, further emphasized the value NSP brings. "NSP is a provider of electronic access control solutions to a broad range of customers across the student accommodation segment. NSP is an excellent addition to Global Solutions and with its strong expertise in access control, expands our offerings across the Hospitality business area. We welcome the team at NSP to the ASSA ABLOY family," she stated.
Profile of NSP Security
Founded in 1993, NSP Security operates primarily from Borehamwood, UK, and has a workforce of approximately 20 employees. The company will now be integrated into the Hospitality segment of ASSA ABLOY's Global Solutions business area.
Financial Impact
The acquisition is expected to positively impact ASSA ABLOY's earnings per share right from the outset. In 2024, NSP Security recorded sales of around MGBP 8 (approximately MSEK 100), demonstrating a robust EBIT margin.
