ASSA ABLOY has announced the acquisition of the Ireland-based leading manufacturer of professional fit, wired and wireless alarms and cloud-based monitoring solutions, HKC.
Established in 1991, HKC currently has around 45 employees. With ASSA ABLOY’s 47,000 employees and £6.4 billion global sales, the acquisition will create opportunities for growth while allowing both businesses to deliver greater value to their customers, by offering a total integrated solution for the smart home security market.
HKC will continue to operate as an autonomous business as part of ASSA ABLOY, retaining the existing strong commercial and operational team that has made the business successful today. Existing customer contact points remain unchanged.
Neil Vann, MD & Market Region Manager of ASSA ABLOY UK is very pleased about the acquisition. He comments: “HKC is a very attractive addition to ASSA ABLOY thanks to its market leading product portfolio, a strong track record of growth and new innovative product development.”
Sales for 2018 are expected to reach some EUR 18 million (approx. SEK 180 million) with a good EBIT margin and the acquisition will be accretive to EPS from start.
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