ASSA ABLOY acquires Mottura in Italy

ASSA ABLOY has signed an agreement to acquire Mottura Serrature di sicurezza Spa  an Italian manufacturer of high security residential armored lock cases and security cylinders.

"We are committed to growing our presence in the Italian market and the acquisition of Mottura provides a great step in strengthening our position in the residential space. I look forward to welcoming Mottura and their employees into the ASSA ABLOY Group," says Nico Delvaux, President and CEO of ASSA ABLOY.

"Mottura and its great team is a fantastic addition to the ASSA ABLOY EMEIA family. Mottura is a great brand that stands for quality, high security and is recognized and respected in Italy and beyond," says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division.

Mottura was established in 1972 and has some 120 employees. The main office is located in Sant'Ambrogio di Torino, close to Torino, Italy.

Sales for 2022 amounted to about MEUR 28 (approx. MSEK 300) with a good EBIT margin. The acquisition will be accretive to EPS from the start.

The acquisition is subject to customary closing conditions and is expected to close during the second quarter of 2023.

Source:prnewswire.com