Cedes is a leading sensor technology company in the elevator and door industry. Cedes was established in 1986 and has some 320 employees. The company is headquartered in Landquart, Switzerland. Sales in 2019 amounted to about 51 MEUR.

"I find it very satisfying that with Capiton AG, Cedes and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of Assa Abloy.

The transaction will have a neutral effect on Assa Abloy´s operating margin.

The divestiture will be de-consolidated from Assa Abloy as of November 2020.