ASSA ABLOY Acquires Wesko Locks in Canada

Wesko Locks, Ltd., is a Canadian manufacturer and supplier of electronic and specialty locks near Ontario.

STOCKHOLM, Sweden, and MISSISSAUGA, Ontario — Lock and locking systems manufacturer 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,” says Nico Delvaux, president and CEO of ASSA ABLOY, in the joint announcement. “This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business.”

“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, in the announcement. “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.”

Why ASSA ABLOY Acquired Wesko Locks

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

Sales for 2023 amounted to about $16 million with “a strong EBIT margin,” according to the joint announcement. The acquisition will be “accretive to EPS from the start,” the announcement says.

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