ASSA ABLOY has announced its acquisition of International Door Products (IDP), a US-based company known for producing both standard and custom fire-rated steel door frames. This strategic move aims to bolster ASSA ABLOY's market presence by incorporating complementary products into its existing portfolio.
"I am very pleased to welcome IDP to ASSA ABLOY. This acquisition delivers on our strategy to strengthen our position in mature markets through adding complementary products and solutions to our core business," stated Nico Delvaux, President and CEO of ASSA ABLOY.
Strategic integration with ASSA ABLOY
Lucas Boselli, Executive Vice President of ASSA ABLOY and Head of the Americas Division, expressed enthusiasm over the acquisition, describing it as a significant milestone for the company.
"This acquisition marks an exciting milestone for ASSA ABLOY Opening Solutions Americas as we welcome International Door Products Inc. into our family," Lucas Boselli noted.
The incorporation of IDP is expected to enhance the product offerings available to ASSA ABLOY's customers. According to Boselli, IDP's high-quality product range and efficient lead times will augment the company's capacity to meet the shifting demands of the construction industry effectively.
IDP's legacy and financials
Established in 1977, IDP employs approximately 80 people and operates its main office and manufacturing facility in Southfield, Michigan.
For the upcoming year, the company projects sales of around MUSD 29, equivalent to approximately MSEK 300, accompanied by a strong EBIT margin. The acquisition is set to positively impact ASSA ABLOY's earnings per share from the outset.
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