ASSA ABLOY To Acquire Arran Isle For Undisclosed Sum

ASSA ABLOY ASAZF has agreed to acquire Arran Isle, a designer, manufacturer, and distributor of door and window hardware in the UK and Ireland, for undisclosed financial terms.
Arran Isle has ~560 employees and has manufacturing and distribution sites in the UK, Ireland, Europe, and China. Sales for 2020 amounted to about £100 million (~SEK 1.2 billion). The acquisition will be accretive to EPS from the start.
"Arran Isle is an excellent addition to our business and, in particular, EMEIA's UK and Ireland market region. The acquisition brings well-known architectural and fenestration hardware brands to our portfolio," says Neil Vann, EVP of ASSA ABLOY and Head of EMEIA Division.
ASSA ABLOY held cash and cash equivalents SEK 3.54 billion as of June 30, 2021.
The acquisition is expected to close during 4Q21.
Price Action: ASAZF shares closed higher by 3.21% at $30.61 on Friday.