ASSA ABLOY has signed an agreement to acquire Amecor, a South African manufacturer of security communication equipment in the South African security market.
"I am very pleased to welcome Amecor into the ASSA ABLOY Group. This constitutes a next step in our strategy to further strengthen our position in this important market,” says Nico Delvaux, President and CEO of ASSA ABLOY.
"The Amecor team has a 30-year history in the South African security sector with a suite of reliable and leading products in the alarm segment. Amecor will reinforce our long-term commitment to the South African and sub-Saharan markets, and numerous synergies with our electronic security solutions business will greatly benefit our customers,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of the EMEIA Division.
Amecor was established in 1994 and has some 120 employees. The main office and factory are located in Johannesburg. Sales for 2022 amounted to about R270 million with a strong EBIT margin. The acquisition will be accretive to EPS from the start.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the second quarter of 2024.
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