Lock specialist Assa Abloy gets more security capabilities as it acquires HKC, the Ireland-based of installed wired and wireless alarms and cloud-based monitoring systems. Financial details of the deal are not available.
Founded in 1991, HKC sells control panels, presence detectors and keypads for managing security systems. It employs 45 staff at its Dublin HQ, and has an office in Littleborough in Greater Manchester, England. Post-acquisition it will continue to operate autonomously as part of the Assa Abloy portfolio, witht he same sales and operations team. Existing customer contact points will also remain as is.
Meanwhile Assa Abloy employs 47000 staff around the world, and counts global sales worth €7.3 billion for the past year.
“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,” the company remarks.
HKC sales are set to reach €18 million, and the acquisition is expected to be accretive to EPS from start.