Kingspan: ASSA ABLOY Acquires Belgian Manufacturer
Deal News | Jun 04, 2025 | PR Newswire Cision ASSA ABLOY
ASSA ABLOY, a global leader in access solutions, announced the acquisition of Kingspan Door Components, a Belgian company specializing in high-quality door panels for sectional doors used in both residential and industrial applications. Kingspan contributes a diversified range to ASSA ABLOY's portfolio, aligning with the company's strategy to enhance its standing in mature markets by integrating complementary products. The integration will occur within ASSA ABLOY's Entrance Systems Division, led by Executive Vice President Massimo Grassi. Kingspan, founded in 1983 and employing about 70 people, recorded sales of approximately EUR 25 million in 2024. Although the acquisition is expected to initially dilute EPS, it signifies a strategic effort to expand ASSA ABLOY's component offerings, thereby providing more varied solutions to its customer base. ASSA ABLOY operates worldwide, employing 63,000 people, and holds strong market positions in door openings and entrance automation.
Sectors
- Construction & Building Materials
- Manufacturing
Geography
- Belgium – Kingspan Door Components is located in Belgium, making it central to the acquisition news.
- Sweden – ASSA ABLOY, the acquiring company, is based in Sweden, adding geographical relevance.
Industry
- Construction & Building Materials – The article involves the acquisition of a manufacturer of door components, indicating relevance to the construction and building materials industry.
- Manufacturing – Kingspan Door Components is a manufacturing entity involved in producing door panels, which situates it within the manufacturing sector.
Financials
- MEUR 25 (approx. MSEK 290) – Sales for Kingspan Door Components in 2024.
- SEK 150 billion – ASSA ABLOY's sales figures, giving context to the scale of the acquiring firm.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ASSA ABLOY | Acquiring Company | Company | A global leader in access solutions, specializing in entrance automation and trusted identities, headquartered in Sweden. |
| Kingspan Door Components | Target company | Company | A Belgian manufacturer of high-quality door panels for sectional doors with operations in Leuze-En-Hainaut, Belgium. |
| Nico Delvaux | President and CEO | Person | President and CEO of ASSA ABLOY, responsible for the strategic direction of the company. |
| Massimo Grassi | Executive Vice President, Head of Entrance Systems Division | Person | Oversees the integration of Kingspan into ASSA ABLOY's Entrance Systems Division. |
| Björn Tibell | Head of Investor Relations | Person | Responsible for communications with investors at ASSA ABLOY. |
| Erik Pieder | CFO and Executive Vice President | Person | Oversees financial strategies and operations at ASSA ABLOY. |