logo
Share SHARE
FONT-SIZE Plus   Neg

Assa Abloy Acquires US-based 4Front; Terms Not Disclosed - Quick Facts

Swedish lockmaker Assa Abloy AB (ASAZF.PK) on Thursday said it has acquired US-based docking systems firm 4Front. The deal was closed simultaneously with signing on December 24. Assa Abloy expects the acquisition to be accretive to earnings per share from start

Texas-based 4Front, which was founded in 1953, offers a complete product range around docking systems as well as a large variety of accessories. It has operations in USA, Canada, Mexico and India, and employes 750 people. 4Front's sales for 2012 are expected to reach $165 million or 1.1 billion Swedish kroner.

Johan Molin, President and CEO of Assa Abloy, said, "4Front, with its leading brands, is yet another strategic entry to the important North American market in entrance automation. I welcome this addition that further reinforces the ASSA ABLOY Group's leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 12 billion proforma in 2012."

Juan Vargues, Executive Vice President of ASSA ABLOY and Head of Division Entrance Systems, added, "The acquisition of 4Front is a great addition to our growing portfolio of docking systems and adds also strongly to our position in the indirect channel of entrance automation products. 4Front has a strong market position, excellent products and a very experienced organization."

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Social-networking giant Facebook, Inc. is said to be testing their new 'Place Tips' feature for iOS users that will rival a similar service being provided by Yelp or Foursquare. The feature will provide the user relevant content about their location as long as they are there through pop ups on their news feed page of Facebook. Disney CEO Bob Iger has confirmed that all three films in the upcoming Star Wars trilogy will be out by the end of the decade. With Episode VII set for release later this year, "Star Wars: Episode VIII" will hit theaters in 2017 and that "Star Wars: Episode IX" will arrive in 2019, according to Get... Burger chain Shake Shack Inc. said late Thursday that it has priced its initial public offering of 5 million Class A shares at $21 per share, which is above the previously estimated price range of $17 to $19 per share. The shares are expected to begin trading on the New York Stock Exchange on Friday, January 30 under the ticker symbol "SHAK."
comments powered by Disqus
Follow RTT