Wallace & Wallace joins ASSA ABLOY in Strategic Acquisition
Deal News | Mar 04, 2025 | PR Newswire Cision ASSA ABLOY
ASSA ABLOY, the global leader in access solutions, has successfully acquired Wallace & Wallace and Wallace Perimeter Security, a Canadian entity specializing in perimeter fencing, door, and gate solutions. Headquartered in Winnipeg, Manitoba, Wallace & Wallace was established in 1946 and employs approximately 160 workers. For 2024, it reported sales of about MCAD 57 (around MSEK 440) with significant profitability. This acquisition complements ASSA ABLOY's existing portfolio in its Entrance Systems Division and is expected to be immediately accretive to earnings per share (EPS). ASSA ABLOY's President and CEO, Nico Delvaux, stated that this acquisition aligns with their strategy to strengthen foothold in mature markets through complementary offerings. Executive Vice President Massimo Grassi highlighted this acquisition as an opportunity to strengthen the company's presence in Central Canada and expand their product reach to new and existing customers.
Sectors
- Security Solutions
- Manufacturing
- Commercial and Residential Construction
Geography
- Canada – Wallace & Wallace is based in Winnipeg, Manitoba, and operates throughout Canada, making it a significant geographical focus for this acquisition.
- Sweden – ASSA ABLOY is headquartered in Sweden, which is an important geography for the acquiring company.
Industry
- Security Solutions – Relevant as both ASSA ABLOY and Wallace & Wallace operate in providing security solutions through fencing, doors, and gate systems.
- Manufacturing – Wallace & Wallace is a manufacturer of fencing and gate solutions, falling under the manufacturing industry.
- Commercial and Residential Construction – Wallace & Wallace services both commercial and residential markets with its fencing and gating products.
Financials
- MCAD 57 – Sales of Wallace & Wallace in 2024, approximately MSEK 440.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| ASSA ABLOY | Acquirer | Company | A global leader in access solutions, operates with 63,000 employees and reported sales of SEK 150 billion. |
| Wallace & Wallace | Target Company | Company | A Canadian manufacturer, distributor, and installer of perimeter fencing, doors, and gates, founded in 1946. |
| Wallace Perimeter Security | Target Company | Company | Part of the acquisition by ASSA ABLOY, operates in perimeter security solutions. |
| Nico Delvaux | President and CEO | People | CEO of ASSA ABLOY. |
| Massimo Grassi | Executive Vice President | People | Executive Vice President of ASSA ABLOY, Head of Entrance Systems Division. |