WSi News2016-03-17 03:52:57
ASSA ABLOY acquires Lighthouse in the U.S.
ASSA ABLOY has acquired Lighthouse, a sectional door and docking distributor in North Carolina, South Carolina, and Tennessee.
"I am very pleased that Lighthouse is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation, where our sales have grown from SEK 3 billion in 2008 to SEK 18 billion in 2015", says Johan Molin, President and CEO of ASSA ABLOY.
"Lighthouse is a strategic step for us in the USA and we welcome the entire team to ASSA ABLOY Entrance Systems", says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
Lighthouse was established in 1994 and has some 150 employees. The company is headquartered in Charlotte, North Carolina.
Sales for 2016 are expected to reach USD 41 million (approx. SEK 350 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.
ASSA ABLOY has acquired Lighthouse, a sectional door and docking distributor in North Carolina, South Carolina, and Tennessee.
"I am very pleased that Lighthouse is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation, where our sales have grown from SEK 3 billion in 2008 to SEK 18 billion in 2015", says Johan Molin, President and CEO of ASSA ABLOY.
"Lighthouse is a strategic step for us in the USA and we welcome the entire team to ASSA ABLOY Entrance Systems", says Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems.
Lighthouse was established in 1994 and has some 150 employees. The company is headquartered in Charlotte, North Carolina.
Sales for 2016 are expected to reach USD 41 million (approx. SEK 350 million) with a good EBIT margin. The acquisition will be accretive to EPS from start.
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