Assa Abloy, a global leader in lock and security solutions, has announced the acquisition of Premier Steel Doors and Frames, a U.S.-based manufacturer with an annual revenue of approximately 420 million Swedish kronor. The acquisition, which strengthens Assa Abloy’s position in mature markets, was confirmed in a company press release.
Founded in 1964 and headquartered in Louisiana, Premier Steel Doors and Frames specializes in the production of hollow metal doors, frames, metal door systems, and aluminum windows. With a workforce of around 90 employees, the company is recognized for its strong operating margins.
“This acquisition is in line with our strategy to enhance our presence in mature markets by adding complementary products and solutions to our core business,” stated Nico Delvaux, CEO of Assa Abloy. He emphasized that the deal would have a positive impact on earnings per share from the outset.
Details regarding the financial terms of the transaction were not disclosed. This acquisition marks another significant move for Assa Abloy as it continues to expand its global footprint and product offerings in the building materials sector.
