ASSA ABLOY To Acquire Arran Isle For Undisclosed Sum

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  • ASSA ABLOY ASAZF has agreed to acquire Arran Isle, a designer, manufacturer, and distributor of door and window hardware in the UK and Ireland, for undisclosed financial terms.
  • Arran Isle has ~560 employees and has manufacturing and distribution sites in the UK, Ireland, Europe, and China. Sales for 2020 amounted to about £100 million (~SEK 1.2 billion). The acquisition will be accretive to EPS from the start.
  • "Arran Isle is an excellent addition to our business and, in particular, EMEIA's UK and Ireland market region. The acquisition brings well-known architectural and fenestration hardware brands to our portfolio," says Neil Vann, EVP of ASSA ABLOY and Head of EMEIA Division.
  • ASSA ABLOY held cash and cash equivalents SEK 3.54 billion as of June 30, 2021.
  • The acquisition is expected to close during 4Q21.
  • Price Action: ASAZF shares closed higher by 3.21% at $30.61 on Friday.
Posted In: M&ANewsBriefs
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