"I am very pleased to welcome Sunray Engineering into the Assa Abloy Group. This acquisition delivers on our strategy to strengthen our position in the mature markets adding to our comprehensive offering in the UK and EMEIA division as a whole,” says Nico Delvaux, President and CEO of Assa Abloy.

"With Sunray Engineering and its great team we want to develop our presence within the high specification doors and louvre systems markets. Sunray Engineering has a long and successful history in the UK, making it a fantastic opportunity to help us realise our growth ambitions and expand our full door specification offering,” says Neil Vann, Executive Vice President of Assa Abloy and Head of EMEIA Division.

Sunray Engineering was established in 1980 and has some 70 employees. The main office is located in Kent, South East England.

Sales for 2022 amounted to about MGBP 12 (approx. MSEK 150) with a strong EBIT margin. The acquisition will be accretive to EPS from the start.