ASSA ABLOY Acquires LifeSafety Power
"I am very pleased to welcome LifeSafety Power into the ASSA ABLOY Group,” said Nico Delvaux, president and CEO of ASSA ABLOY. “LifeSafety Power constitutes a strategic addition to the Group and reinforces our position in access control solutions.”
"LifeSafety Power is a great complement to our access control portfolio — we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio," said Lucas Boselli, executive vice president of ASSA ABLOY and head of the Americas division.
LifeSafety Power was established in 2009 and has some 65 employees. The main office is located in Libertyville, Illinois.
“We’re excited about the acquisition and the opportunity to continue to innovate under the strength of ASSA ABLOY,” said Larry Ye, president and CEO of LifeSafety Power. “This is an important and critical step in the ongoing expansion of our company and our drive to offer the latest networking developments to the industry. With this acquisition, we will complement the access control portfolio provided by ASSA ABLOY, but will keep our uniqueness, which has brought us success and is part of our DNA. We will continue to be nimble in addressing the needs of the industry and our customers — and the secret sauce that brought LifeSafety Power to this pivotal point will remain.”
Sales for 2019 are expected to reach about $30 million (approx. SEK 290 million) with a good EBIT margin and the acquisition will be accretive to EPS from the start.
While LifeSafety Power does not have a booth at GSX this year, the company will be meeting with customers and OEM partners to discuss the recent acquisition and will be ramping up for several new product announcements at ISC West 2020. LifeSafety Power will also be represented at ASSA ABLOY booth #1303.