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(CercleFinance.com) – The Swedish Assa Abloy announced on Tuesday that it had acquired Wesko Locks, a Canadian manufacturer of electronic and specific locks.
In a press release, the group explains that the high-quality innovative products, as well as the excellent service it offers to its customers, will allow it to strengthen its own activities in the field.
Created in 1990, Wesko Locks employs around 70 employees at its Mississauga site, near Toronto.
Its annual turnover amounts to around 15 million euros in 2023 with a ‘solid’ level of operating margin, which means that the acquisition will be accretive from the first financial year.
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