ASSA ABLOY acquires Inovadoor in Brazil
STOCKHOLM, Oct. 3, 2023 /PRNewswire/ -- ASSA ABLOY has acquired Inovadoor Portas Industriais Ltda, a Brazilian manufacturer of sectional and high-speed doors.
"I am very pleased to welcome Inovadoor into the ASSA ABLOY Group. This acquisition delivers on our strategy to reinforce our current offering within entrance automation in emerging markets," says Nico Delvaux, President and CEO of ASSA ABLOY.
"By leveraging Inovadoor's local manufacturing capabilities, nationwide reach, and exceptional reputation, we will strengthen our footprint in Brazil and pave the way for future expansion and growth opportunities in both Brazil and throughout Latin America," says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division.
Inovadoor was founded in 1997 and has some 100 employees. The main office and factory are located in Pinhais, close to Curitiba, Brazil.
Sales for 2022 amounted to about MBRL 52 (approx. MSEK 100). The acquisition will be accretive to EPS from the start.
For more information, please contact:
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
About ASSA ABLOY
The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY's innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.
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