ASSA ABLOY announces acquisition of HKC
Lock specialist ASSA ABLOY has announced that it is finalising the acquisition of Ireland-based manufacturer of installed wired and wireless alarms and cloud-based monitoring systems, HKC.
Founded in 1991, HKC products include control panels, presence detectors and keypads for managing security systems. It employs 45 members of staff at its Dublin headquarters, and also has an office in Littleborough in Greater Manchester in Northern England.
ASSA ABLOY currently employs 47,000 staff around the world, and brings vast experience in the security sector to the table, announcing €7.3/£6.4 billion’ worth of global sales in the past year.
Both stated that the move will create more opportunity in the marketplace by combining to offer “a total integrated solution for the smart home security market.”
HKC will continue to operate autonomously as part of ASSA ABLOY’s ever-growing portfolio and retain the same sales and operations team, with existing customer contact points remaining unchanged.
“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,” commented Neil Vann, MD & market region manager for ASSA ABLOY’s UK division.
Sales at HKC are expected to reach €18 million and the acquisition is expected to be accretive to EPS from start.