Access Control Giant ASSA ABLOY Acquires LifeSafety Power
ASSA ABLOY says it will incorporate LifeSafety Power’s knowledge of power supply and power consumption throughout its access control portfolio.
STOCKHOLM — ASSA ABLOY announces it has acquired LifeSafety Power, a leading supplier of smart integrated access control power solutions for OEMs, integrators and end-users. Financial terms were not disclosed.
“I am very pleased to welcome LifeSafety Power into the ASSA ABLOY Group. LifeSafety Power constitutes a strategic addition to the Group and reinforces our position in access control solutions,” says Nico Delvaux, president and CEO, ASSA ABLOY.
LifeSafety Power was established in 2009 and has some 65 employees. Its main office is located in Libertyville, Ill.
“LifeSafety Power is a great complement to our access control portfolio — we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio,” says Lucas Boselli, executive vice president of ASSA ABLOY and Head of the Americas Division.
Sales for 2019 are expected to reach about USD 30 million with a good EBIT margin and the acquisition will be accretive to EPS from start, according to an announcement.
“We’re excited about the acquisition and the opportunity to continue to innovate under the strength of ASSA ABLOY,” says Larry Ye, president and CEO of LifeSafety Power. “This is an important and critical step in the ongoing expansion of our company and our drive to offer the latest networking developments to the industry. With this acquisition, we will complement the access control portfolio provided by ASSA ABLOY, but will keep our uniqueness, which has brought us success and is part of our DNA. We will continue to be nimble in addressing the needs of the industry and our customers — and the secret sauce that brought LifeSafety Power to this pivotal point will remain.”
The deal marks ASSA ABLOY’s first acquisition since it purchased key management provider KEYper Systems in January.
LifeSafety Power will be represented at the ASSA ABLOY booth, #1303, during GSX 2019 in Chicago, Sept 10-12.
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