"I am very pleased to welcome Caldwell into the Assa Abloy Group. This acquisition delivers on our strategy to add complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of Assa Abloy.

“Caldwell is an excellent addition to the Pacific & North East Asia Division and provides complementary growth opportunities. The acquisition will strengthen our position with fenestration manufacturers and I look forward to working with the experienced team to continue Caldwell’s successful journey,” says Simon Ellis, Executive Vice President and Head of Asia Pacific Assa Abloy Opening Solutions Pacific & North East Asia.

Caldwell was established in 1888 and has some 800 employees. Sales for 2021 amounted to about MSEK 1,000. According to Assa Abloy, the acquisition will be accretive to EPS from the start.