"I am very pleased that L-Door is joining the Assa Abloy Group. I welcome this addition that further reinforces the Assa Abloy Group´s leadership in entrance automation, growing from SEK 3 billion in 2008 to more than SEK 15 billion proforma in 2014”, says Johan Molin, President and CEO of Assa Abloy.

"L-Door is another important step to increase our strong market position in the sectional door industry. Besides a strong brand and innovative products L-door has a strong service organisation offering an excellent market coverage in Belgium. I welcome the entire L-Door team”, says Juan Vargues, Executive Vice President of Assa Abloy and Head of Division Entrance Systems.

L-Door was established in 1997 and has some 120 employees. The head office and factory is located in Liedekerke, Belgium.

Sales for 2015 are expected to reach EUR 19 M (approx. SEK 175 M) with a good EBIT margin. The acquisition will be accretive to EPS from start.

The transaction is expected to close during Q2 2015.