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Assa Abloy Buys Premier Steel Doors And Frames

December 02, 2024 — 03:23 am EST

Written by RTTNews.com for RTTNews

(RTTNews) - Assa Abloy (ASS.L), a Swedish maker of products related to locks, doors, gates, and others, said on Monday that it has acquired Premier Steel Doors and Frames, an American maker of hollow metal doors and frames, metal building door systems, and aluminium windows.

"The acquisition will be accretive to EPS from the start," Assa Abloy noted.

Nico Delvaux, CEO of Assa Abloy, said: "This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business."

This will also complement the acquirer's current product portfolio and boost its presence in the southern U.S.

Founded in 1964, Premier has its main office and factory in Monroe, Louisiana.

For the full-year 2023, Premier had posted sales of $40 million, with a strong EBIT margin.

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