ASSA ABLOY acquires Wallace & Wallace and Wallace Perimeter Security in Canada

ASSA ABLOY acquires Wallace & Wallace and Wallace Perimeter Security in Canada

STOCKHOLM, March 4, 2025 /PRNewswire/ -- ASSA ABLOY has acquired Wallace & Wallace and Wallace Perimeter Security, a Canadian manufacturer, distributor and installer of perimeter fencing, door and gate solutions for the commercial and residential markets.

"I am very pleased to welcome Wallace & Wallace 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," says Nico Delvaux, President and CEO of ASSA ABLOY.

"By acquiring Wallace & Wallace, we are enhancing and complementing our Perimeter Security portfolio," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. "This acquisition enables us to introduce new products to our existing and new customers while further strengthening our presence in Central Canada. We are excited about the opportunities this brings and are confident in the value it will create for our customers."

Wallace & Wallace was founded in 1946 and has some 160 employees. The main office and factory are located in Winnipeg, Manitoba, Canada. Wallace & Wallace will be part of the Business Segment Perimeter Security within the Entrance Systems Division.

Sales for 2024 amounted to about MCAD 57 (approx. MSEK 440) with a strong EBIT margin. The acquisition will be accretive to EPS from the start.

For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72                
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY

ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. We operate worldwide with 63,000 employees and sales of SEK 150 billion, with leading positions in areas such as efficient door openings, trusted identities and entrance automation. Our innovations enable safe, secure and convenient access to physical and digital places.

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SOURCE ASSA ABLOY