07.06.21
ASSA ABLOY has signed an agreement to sell its Nordic locksmith business CERTEGO to Nalka Invest, which invests in small- and medium-sized businesses primarily in the Nordic region. This transaction reinforces the strategic focus on the core security solutions busi-ness of ASSA ABLOY Opening Solutions EMEIA Division.
CERTEGO is a market-leading locksmith and security solutions installation business in the Nordic region. CERTEGO has a network of around 70 locations with some 1,200 employ-ees in Sweden, Finland, Norway and Denmark. The impact from the divestment on ASSA ABLOY external sales is approximately SEK 1.5 billion ($175 million).
"I find it satisfying that with Nalka Invest we were able to find a committed, experienced owner that gives the business a new home and creates new opportunities for the future,” said Nico Delvaux, president and CEO of ASSA ABLOY.
“Recent trends in the security solutions installation market, including the growing need to offer a comprehensive range of different solutions, has led us to reconsider the merits of continued ownership of CERTEGO. We have concluded that a divestment would allow EMEIA to focus resources in its core business,” added Neil Vann, EVP of ASSA ABLOY and head of EMEIA Division.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.
CERTEGO is a market-leading locksmith and security solutions installation business in the Nordic region. CERTEGO has a network of around 70 locations with some 1,200 employ-ees in Sweden, Finland, Norway and Denmark. The impact from the divestment on ASSA ABLOY external sales is approximately SEK 1.5 billion ($175 million).
"I find it satisfying that with Nalka Invest we were able to find a committed, experienced owner that gives the business a new home and creates new opportunities for the future,” said Nico Delvaux, president and CEO of ASSA ABLOY.
“Recent trends in the security solutions installation market, including the growing need to offer a comprehensive range of different solutions, has led us to reconsider the merits of continued ownership of CERTEGO. We have concluded that a divestment would allow EMEIA to focus resources in its core business,” added Neil Vann, EVP of ASSA ABLOY and head of EMEIA Division.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.