(CercleFinance.com) – The Swedish manufacturer of locks and bolts Assa Abloy announced on Tuesday the continuation of its strategy of targeted acquisitions with the acquisition of the South African Amecor, specialized in security equipment.
In a press release, the group explains that the operation will allow it to strengthen its presence in South Africa and sub-Saharan Africa, a geographic market that it considers ‘important’.
Established in 1994, Amecor – which employs 120 people in its offices and factory in Johannesburg – manufactures alarm systems, as well as security equipment.
Its turnover in 2022 amounted to 170 million Swedish crowns (around 15 million euros), specifies Assa Abloy, with a ‘good level’ of operating margin, which means that the acquisition will be accretive from its finalization, that is to say during the second quarter.
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