ASSA ABLOY Acquires Wesko Locks In Canada

STOCKHOLM, June 25, 2024 /PRNewswire/ -- ASSA ABLOY has acquired Wesko Locks Ltd, a Canadian manufacturer and supplier of electronic and specialty locks.

"I am very pleased to welcome Wesko Locks 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.

"Wesko Locks has an extensive portfolio that complements our current high-security products and solutions," says Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division. "Their focus on high quality, innovative products and excellent customer service reflects our values and I'm excited for them to be part of ASSA ABLOY."

Wesko Locks was founded in 1990 and has some 70 employees. The main office and factory are located in Mississauga, close to Toronto, Canada.

Sales for 2023 amounted to about MCAD 22 (approx. MSEK 170) 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

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 61,000 employees and sales of SEK 141 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-acquires-wesko-locks-in-canada,c4005739

The following files are available for download:

https://mb.cision.com/Main/7333/4005739/2882440.pdf	Press release (PDF)
https://news.cision.com/assa-abloy/i/assa-abloy-logo-door,c3314033	ASSA ABLOY logo door

View original content:https://www.prnewswire.com/news-releases/assa-abloy-acquires-wesko-locks-in-canada-302181278.html

SOURCE ASSA ABLOY

First published on Tue, Jun 25, 2024

Enjoyed what you read? Great news – there’s a lot more to explore!

Dive into our content repository of the latest tech news, a diverse range of articles spanning introductory guides, product reviews, trends and more, along with engaging interviews, up-to-date AI blogs and hilarious tech memes!

Also explore our collection of branded insights via informative white papers, enlightening case studies, in-depth reports, educational videos and exciting events and webinars from leading global brands.

Head to the TechDogs homepage to Know Your World of technology today!

Disclaimer - Reference to any specific product, software or entity does not constitute an endorsement or recommendation by TechDogs nor should any data or content published be relied upon. The views expressed by TechDogs' members and guests are their own and their appearance on our site does not imply an endorsement of them or any entity they represent. Views and opinions expressed by TechDogs' Authors are those of the Authors and do not necessarily reflect the view of TechDogs or any of its officials. While we aim to provide valuable and helpful information, some content on TechDogs' site may not have been thoroughly reviewed for every detail or aspect. We encourage users to verify any information independently where necessary.

Tags:

ASSA ABLOY Wesko Locks Ltd Electronic And Specialty Locks Security Product Access Solutions

Join The Discussion

Coda And Unity To Enable Out-Of-App Monetization For Game Developers Globally

Mymemo AI, Founded By Lingfei Li, Unveils Mymemo ONE -- The Humanoid Robot That Brings AI Into Real Homes At CES 2026

Alcott Global Opens Nominations For The 2026 Leaders In Supply Chain Awards

Capasystems Unveils Capaone, A Cloud-Based Unifie Endpoint Management Platform Built To Extend Microsoft Intune

Community Autism Services Opens New Autism Learning Center In Dartmouth