ASSA ABLOY Acquires Wallace & Wallace and Wallace Perimeter Security
ASSA ABLOY has acquired Wallace & Wallace and Wallace Perimeter Security, a Canadian manufacturer, distributor and installer of perimeter fencing, door and gate solutions for the commercial and residential markets.
"I am very pleased to welcome Wallace & Wallace 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.
"By acquiring Wallace & Wallace, we are enhancing and complementing our Perimeter Security portfolio," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division. "This acquisition enables us to introduce new products to our existing and new customers while further strengthening our presence in Central Canada. We are excited about the opportunities this brings and are confident in the value it will create for our customers."
Wallace & Wallace was founded in 1946 and has some 160 employees. The main office and factory are located in Winnipeg, Manitoba, Canada. Wallace & Wallace will be part of the Business Segment Perimeter Security within the Entrance Systems Division.
Sales for 2024 amounted to about $57 million Canadian (approx. MSEK 440) with a strong EBIT margin. The acquisition will be accretive to EPS from the start.
