ASSA ABLOY has acquired HKC, a leading manufacturer of professional fit, wired and wireless alarms and cloud based monitoring solutions for both the residential and commercial markets, based in Ireland.
ASSA ABLOY is an international group with around 47,000 employees and has global sales close to £6.4 billion. In the UK, ASSA ABLOY is best known for the Yale and UNION brands and has its Head Office and main manufacturing centre in Willenhall.
Given the strong commercial synergies between HKC and ASSA ABLOY Limited, the acquisition will create opportunities for growth while allowing both businesses to deliver greater value to their customers, by offering a wider and more innovative product range.
HKC will continue to operate as an autonomous business as part of ASSA ABLOY, retaining the existing strong commercial and operational team that has made the business successful today. Existing customer contact points remain unchanged.
“I am very pleased to welcome HKC into the ASSA ABLOY Group. HKC is a very attractive addition to ASSA ABLOY thanks to its market leading product portfolio, a strong track record of growth and new innovative product development,” says Neil Vann, MD & Market Region Manager of ASSA ABLOY UK.
”HKC’s cloud based self-monitoring technology together with ASSA ABLOY’s smart digital door locking solutions creates opportunities to add greater value for our customers, providing a total integrated solution for the smart home security market.”
HKC was established in 1991 and has around 45 employees. The Head Office and factory is located in Dublin, Ireland.
Sales for 2018 are expected to reach some EUR 18 million (approx. SEK 180 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.