Adams Rite designs and manufactures mechanical and electrical security products. The Company has a strong brand and product offering in the aluminum door channels that are complementary to ASSA ABLOY.
The Company is headquartered in Pomona, California where it has both its corporate headquarters and main operating facility, which focuses on assembly. In the UK the Company is a distributor of mechanical and electrical security products for commercial aluminum doors.
Annual sales amount to approximately USD 50 M with a good EBIT-margin. The acquisition is expected to be EPS neutral during 2006 and positive from 2007. The Company has approximately 300 employees. Restructuring costs in connection with the acquisition are expected to amount to approximately USD 3 M.
06/04/2006