"This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business,” says Nico Delvaux, President and CEO of Assa Abloy.

"Integrating Kingspan Door Components into the Entrance Systems Division allows us to expand our innovative and competitive component portfolio. This will enable us to provide our customers with an even broader selection of high-quality sectional door panels," says Massimo Grassi, Executive Vice President of Assa Abloy and Head of Entrance Systems Division.

Kingspan Door Components was founded in 1983 and has some 70 employees. The main office and factory are located in Leuze-En-Hainaut, Belgium. Kingspan Door Components will be part of Sectional Doors and Components in the business segment Industrial within the Entrance Systems Division.

Sales for 2024 amounted to about MEUR 25 (approx. MSEK 290). The acquisition will initially be dilutive to EPS.