ASSA ABLOY has acquired Lawrence Doors, a U.S. manufacturer of coiling steel doors, grilles and counter shutters.
"I am very pleased to welcome Lawrence Doors 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.
"With the acquisition of Lawrence Doors, we are set to enter the rapidly growing coiling steel market and establish a strong presence on the U.S. West Coast," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. "This acquisition will also equip us with the expertise and product portfolio needed to better serve our dealers and customers.”
Lawrence Doors was founded in 1925 and has some 120 employees. The main office and factory are located in Baldwin Park, California. Lawrence Doors will be part of the Business Segment Residential within the Entrance Systems Division.
Sales for 2023 amounted to about $31 million with a strong EBIT margin. The acquisition will be accretive to EPS from the start.
