ASSA ABLOY has acquired HKC, a leading manufacturer of ‘professional fit’ wired and wireless alarms and cloud-based monitoring solutions for both the commercial and residential markets. HKC was established in 1991 and has around 45 employees. The company’s head office and factory are located in Dublin, Ireland. Sales for 2018 are expected to reach EUR 18 million (approximately SEK 180 million) with a good EBIT margin. The acquisition will be accretive to EPS from the start.
Given the strong commercial synergies between HKC and ASSA ABLOY, 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 company successful. In addition, existing customer contact points remain unchanged.
“I’m very pleased to welcome HKC into the ASSA ABLOY Group,” enthused Neil Vann, managing director and market region manager of ASSA ABLOY UK. “HKC is a very attractive addition to ASSA ABLOY thanks to its market-leading product portfolio, a strong track record of growth and new and innovative product development. 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.”
ASSA ABLOY is an international group with around 47,000 employees and reports global sales of close to £6.4 billion. In the UK, ASSA ABLOY is best known for the Yale and UNION brands and operates from its head office and main manufacturing centre in Willenhall.