Assa Abloy AB is a Swedish based company engaged in the manufacture and supply of products and services related to locks, doors, gates, and entrance automation.Its activities also include the development of access control and identification systems utilizing technologies such as keys, cards, tags, mobile credentials, and biometric methods.[2]
The company was formed in 1994 following the separation of Assa AB from the Swedish security company Securitas AB.The company was subsequently formed through a merger with Abloy Oy, a Finnish manufacturer of high-security locks and a subsidiary of Wärtsilä at the time.Later that year, Assa Abloy was listed to the Stockholm Stock Exchange.Since its formation, the company has expanded through numerous acquisitions, Yale, Chubb Locks, Medeco, Mul-T-Lock and Fichet-Bauche.[3] Its principal shareholders include Investment AB Latour and Melker Schörling AB.
Assa Abloy was founded at the merger of the two companies Assa and Abloy in 1994. Assa stands for August Stenman Stenman August.[4][5] The name Abloy comes from a contraction of the Swedish Finnish bilingual name Ab Låsfabriken Lukkotehdas Oy, meaning literally Corp. Lock Factory Lock Factory Corp. (first Corp. and Låsfabriken from Swedish, last Lukkotehdas and Corp. from Finnish). In 1919 the company was renamed Aktiebolag Lukko Osakeyhtiö, understood word for word as Corp. Lock Corp.
History
Founding, growth and development
Assa Abloy was formed in 1994, through the merger of Swedish firm ASSA and Finnish high security lock manufacturer Abloy.[5] The company was introduced to the Stockholm Stock Exchange later the same year.[6]
From a regional company with 4,700 employees in 1994, Assa Abloy has become a global group with 61,000 employees in 2023.[7] The company has grown its revenue by more than 9% annually and operates now in over 70 countries.[7]
Revenue in 2022 was SEK 120,793 M.[8]Sales revenue in 2023 was 140,716 M. The increase of 16% was a third due to the effects of the exchange rate.[1]
Brands
ASSA, Sweden (namesake) (August Stenman Stenman August (founded by August Stenman))
ABLOY, Joensuu & Helsinki, Finland (namesake) (AktieBolag Lukko OsakeYhtiö)
Albany, United States (founded in Albany, NY)
Alcea, France
Amarr, United States (founded by Abraham & Morris Brenner)
Ameristar, United States
Arjo, France (Arches Johannot founded by Mathieu and Barthélémy Johannot)
Nassau Door, Denmark (named after Nassau, Bahamas)
National Hardware, United States
NEMEF, The Netherlands(NEderlandsche MEubelsloten Fabriek)
Norton, United States (founded by Lewis Norton)
ODIS, Chile (Obras De Ingeneria Santiago)
Olimpia Hardware, Costa Rica (named after Olympia, Greece)
Papaiz, Brazil (founded by Luigi Papaiz)
Pfister, United States (founded by William Pfister)
Phillips, Mexico (founded by Fernando Phillips)
Planet GDZ, Switzerland (founded by Rene Geyger & Andreas Dintheer in Zurich)
Point Fort Fichet, France (founded by Alexandre Fichet)
PTI Security Systems, United States (Preferred Technology Incorporated)
Rixson, United States (founded by Oscar Rixson)
Ruko, Denmark (founded by Rudolf Koreska)
Sargent (founded by Joseph Sargent), United States
Securitech, United States
Silvana, Brazil
SKIDATA, Austria
SMI, India (Shree Mahaveer Industries)
Spence Doors, Australia (founded by Robert Spence)
St Guchi, Malaysia (named after Guchi, Iran)
Sure-Loc Hardware, United States
Tesa, Spain (Talleres des Eskoriaza Sociedad Annonima)
Traka, United Kingdom
TrioVing, Norway (named after Petter & Wilhelm RosenVinge)
Trojan, United Kingdom (named after Troy)
Udinese, Brazil (named after Udine, Italy)
Uhlmann & Zacher, Germany (founded by Martin Uhlmann & Marc Zacher)
Union, Kenya
Union, United Kingdom
Valli, Italy (founded by Pasquele Valli)
Vachette, France (founded by Louis & Emile Vachette)
VingCard Elsafe, Norway (named after Petter & Wilhelm RosenVinge)
Viro, South Africa (named after Vincenzo Rosetti)
Wallace & Wallace, Canada (founded by Lowell Wallace)
Wallace Perimeter Security, Canada (founded by Lowell Wallace)
Wesko Locks, Canada (founded by Gabriele Konztanze & Florian Westwinkel)
Weiser, Canada, United States
Xinmao, China
Yale, except for United States and Canada (founded by Linus Yale)
Yeti, Poland
Acquisitions
In May 1999, the acquisition of Effeff Fritz Fuss[11] in Germany enabled Assa Abloy to enter the electromechanical lock market.Assa Abloy also acquires Mul-T-Lock in Israel, a manufacturer of high security locks.[5] Assa Abloy doubles in size in 2000, when it acquires the global lock group Yale Intruder Security.[12] In the same year, Assa Abloy acquires HID, adding electronic identification to its product portfolio.[13]
In April 2002, Assa Abloy Group acquired Besam, a Swedish company specialized in automatic pedestrian doors.[14] Another important acquisition for the group was Fargo Electronics, a company which develops systems for safe issuing of credit, bank, debit and ID cards.[15]
In 2009, the Italian door automation manufacturer, Ditec,[16] was bought.Important acquisitions were also made in September 2011, with the purchase of Crawford and Flexiforce.[17] A number of purchases followed in 2012.In April 2012 Traka, a company specialising in key and asset management was acquired.[18] The group also acquired Albany Door Systems, a manufacturer of high speed industrial doors.[19] November 2013 came with the purchase of the Polish fire and security door manufacturer Mercor SA,[20] Ameristar USA,[21] and Amarr.[22]
In 2018, Assa Abloy acquired Lorient, a UK based designer and manufacturer of high performance door sealing systems and HKC, an Irish alarm and cloud based monitoring solutions manufacturer.[23][24]
In December 2018, Assa Abloy acquired Luxer One, a package locker business in the US.[25]
In February 2020, Assa Abloy acquired the UK-based, 140-strong biometric access and workforce management technology business, Biosite.[26]
In May 2021, Assa Abloy acquired Sure-Loc, the leading supplier of residential locks and associated hardware in the US.[27]
In September 2021, Assa Abloy acquired the Hardware and Home Improvement ("HHI") division of Spectrum Brands for $4.3 billion. HHI has a varied portfolio of products, including patented SmartKey technology and electronic, smart and biometric locks. Key brands include Kwikset, Baldwin, Weiser, Pfister and National Hardware. HHI is headquartered in Lake Forest, California with some 7,500 employees worldwide and has manufacturing facilities in the United States, Mexico, Taiwan, China, and the Philippines.[28][29]
In June 2022, Caldwell, a manufacturer of fenestration hardware for window manufacturers based in Rochester, NY, was acquired by Assa Abloy for an undisclosed sum.[30][31]
In August 2022, ALCEA, a company specializing in access control solutions and catering to various vertical markets, was acquired by Assa Abloy Global Solutions.[32]
In December 2022, Assa Abloy acquired the New York-headquartered provider of rugged handheld mobile computers and readers, Janam Technologies.[33]
On September 8, 2021, Assa Abloy announced that it had signed a definitive agreement to acquire Spectrum Brands' HHI division, including Kwikset, among other brands, for a purchase price of $4.3 billion. The transaction was initially expected to close in the fourth quarter of 2021. On June 20, 2023, the purchase of the "HHI" division of Spectrum Brands was completed, this included the Kwikset brand.
In October 2023, Assa Abloy acquired New York-headquartered manufacturer of high-security mechanical and electronic door hardware products in the U.S., Securitech Group Inc.[34]
In late 2024, Irish subsidiary HKC launched the first online portal for clients and customers.[36]
Cooperation with colleges and universities
The company is a Corporate Partner in the Stockholm School of Economics partner program for companies that contribute financially to the college and works closely with regard to research and education.[37]
