Assa Abloy

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Assa Abloy AB
Publicly traded Aktiebolag
Traded asNasdaq StockholmASSA B
ISINSE0007100581 Edit this on Wikidata
IndustryManufacturing and services
PredecessorYale & Valor Edit this on Wikidata
Founded1994; 26 years ago (1994)[1]
HeadquartersStockholm, Sweden
Key people
Lars Renström (Chairman), Nico Delvaux (President and CEO)
ProductsLocks, automatic and security doors
RevenueSEK 76.137 billion (2017)[2]
SEK 12.341 billion (2017)[2]
SEK 8.635 billion (2017)[2]
Total assetsSEK 99.444 billion (2017)[3]
Total equitySEK 50.657 billion (2017)[3]
Number of employees
48,353 (2018)[4]
Websiteassaabloy.com

Assa Abloy AB is a Swedish conglomerate whose offerings cover products and services ranging from locks, doors, gates and entrance automation. This also includes controlling identities with keys, cards, tags, mobile and bio-metric identity verification systems.[5] Assa Abloy was formed in 1994, when Assa AB was separated from Swedish security firm Securitas AB.

Shortly thereafter, the Finnish high security lock manufacturer Abloy Oy (based in Joensuu, a subsidiary of the Finnish company Wärtsilä) was acquired.

The company was introduced to the Stockholm Stock Exchange later the same year. Assa Abloy has since made over 200 acquisitions including Yale lock, Chubb Locks, Medeco in the United States, Mul-T-Lock in Israel and Fichet-Bauche in France.[6] Its two largest shareholders are Latour and Melker Schörling AB.[7]

Name[edit]

Assa Abloy was founded at the merger of the two companies Assa and Abloy in 1994. Assa stands for August Stenman Stenman August.[8][9] The name abloy comes from a contraction of the Swedish Finnish bilingual name Ab Låsfabriken Lukkotehdas Oy, meaning literally Ltd. Lock Factory Lock Factory Ltd. (first Ltd. and Låsfabriken from Swedish, last Lukkotehdas and Ltd. from Finnish).

History[edit]

Founding, growth and development[edit]

Assa Abloy was formed in 1994, through the merger of Swedish firm assa and Finnish high security lock manufacturer Abloy.[10] The company was introduced to the Stockholm Stock Exchange later the same year.[11]

From a regional company with 4,700 employees in 1994, Assa Abloy has become a global group with 48,500 employees in 2018.[12] The company has increased its operating income by 7000% since its formation and operates now in over 70 countries.[13]

Revenue in 2018 was SEK 84, 048 M.[14]

Overview[edit]

Divisions[edit]

Assa Abloy has five divisions: EMEA (operates in Europe, the Middle East and Africa), Americas (operates in the U.S.and Canada), APAC (operates in Asia and Oceania), Global Solutions and Entrance Systems.

CEOs[edit]

Assa Abloy has had the following Presidents and CEOs:

  • 1994–2003: Carl-Henric Svanberg
  • 2003–2005: Bo Dankis
  • 2005–2018: Johan Molin
  • 2018–present: Nico Delvaux

Product categories[edit]

Source:[15]

  • Mechanical locks
  • Electromechanical and electronic locks
  • Padlocks
  • Access control systems
  • Mobile keys
  • Automatic doors
  • Door closers
  • Exit devices and panic exit devices
  • Hotel locks
  • Hotel Energy management systems
  • Safes
  • Security doors
  • Intelligent lockers
  • Key management systems

Competitors[edit]

Assa Abloy has five main competitors in its segment: Allegion (Republic of Ireland), Stanley Black & Decker (United States), Dormakaba (Switzerland), Hager (United States) and Hörmann (Germany). All are strong locally on their home markets, and also have an international presence. The Asian market holds many smaller competitors, none of which hold a dominant market share.[16]

Brands[edit]

Acquisitions[edit]

In May 1999, the acquisition of Effeff Fritz Fuss[17] in Germany enables Assa Abloy to enter the electromechanical lock market. Assa Abloy also acquires Mul-T-Lock in Israel, a manufacturer of high security locks.[18] Assa Abloy doubles in size in 2000, when it acquires the global lock group Yale Intruder Security.[19] In the same year, Assa Abloy acquires HID, adding electronic identification to its product portfolio.[20]

In April 2002, Assa Abloy Group acquired Besam, a Swedish company specialized in automatic pedestrian doors.[21] Another important acquisition for the group was Fargo Electronics, a company which develops systems for safe issuing of credit, bank, debit and ID cards.[22] This was followed by other acquisitions such as Baodean in China and Irevo in South Korea in 2007.[23]

In 2009, the Italian door automation manufacturer, Ditec,[24] was bought. Important acquisitions were also made in September 2011, with the purchase of Crawford and Flexiforce.[25] A number of purchases followed in 2012. The group acquired Albany Door Systems, a manufacturer of high speed industrial doors.[26] November 2013 came with the purchase of the Polish fire and security door manufacturer Mercor SA,[27] Ameristar USA,[28] and Amarr.[29]

In February 2020, Assa Abloy acquired the UK-based, 140-strong biometric access and workforce management technology business, Biosite.[30]

Cooperation with colleges and universities[edit]

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.[31] In October 2015, Assa Abloy joined as partner to KTH Royal Institute of Technology’s Things, a start up hub for companies in the Internet-of-things sector.[32]

Awards[edit]

  • 2013 – Ranked #78 on Forbes' list of the World's Most Innovative Companies[33]
  • 2014 – Ranked #93 on Forbes' list of the World's Most Innovative Companies[34]
  • 2016 – Again present on Forbes' list of the World's Most Innovative Companies[35]
  • 2016 – DWM Green Award[36]
  • 2017 – Ranked #80 on Forbes' list of Top Multinational Performers[37]
  • 2018 – Ranked #78 on Forbes' list of the World's Most Innovative Companies[38]
  • 2019 – Gold winner in ‘Excellent Brands – Building and Elements’ at the German Brand Awards 2019[39]

See also[edit]

References[edit]

  1. ^ "Timeline". About. Assa Abloy. Retrieved 22 May 2018.
  2. ^ a b c Assa Abloy: "Year-End Report 2017"
  3. ^ a b Assa Abloy: "Year-End Report 2015"
  4. ^ "ASSA ABLOY Company Profile". Craft. Retrieved 23 October 2019.
  5. ^ "Annual Report 2018" (PDF). Investors. Assa Abloy. Retrieved 27 May 2019.
  6. ^ "Acquisitions". Investors. Assa Abloy. Retrieved 27 May 2019. Assa Abloy has made over 200 acquisitions since the Group was formed in 1994, and has a target of 5 percent acquired growth over a business cycle
  7. ^ Assa Abloy Largest Shareholder
  8. ^ ASSA History
  9. ^ Assa Abloy: History
  10. ^ "Assa Abloy Group | Historical highlights from locks in 1994 to door openings solutions in 2016". www.assaabloy.com. Assa Abloy. Retrieved 3 June 2019.
  11. ^ Assa Abloy Acquisitions Archived 6 December 2013 at the Wayback Machine
  12. ^ "Assa Abloy Group | Brief overview of the group". www.assaabloy.com. Assa Abloy. Retrieved 3 June 2019.
  13. ^ "Assa Abloy Group | Brief overview of the group". www.assaabloy.com. Assa Abloy. Retrieved 3 June 2019.
  14. ^ "Annual Report" (PDF). www.assaabloy.com. Assa Abloy. Retrieved 3 June 2019.
  15. ^ Assa Abloy Products
  16. ^ Business & Market Retrieved 22 August 2017.
  17. ^ "Assa Abloy Acquires German effeff Fritz Fuss KGaA - The World's Leading Manufacturer of Electric Strikes. - Free Online Library". Thefreelibrary.com. Retrieved 22 August 2017.
  18. ^ "About Us - History". www.assaabloy.com. Assa Abloy. Retrieved 5 June 2019.
  19. ^ The Internationalists: Masters of the Global Game, p. 18, at Google Books
  20. ^ "Assa Abloy Acquires HID, World Leader in Identification Technology for Access Control. - Free Online Library". Business Wire. Thefreelibrary.com. 6 November 2000. Retrieved 29 August 2015.
  21. ^ "Assa Abloy Acquires Besam - World Leader in Door Automatics Other OTC:ASAZF". Globenewswire.com. 29 April 2002. Retrieved 22 August 2017.
  22. ^ "Assa Abloy'S HID Global Corporation to Acquire Fargo Electronics Inc.; Acquisition Expands Opportunities for Both Companies in Secure Card Issuance and Electronic Access Control. - Free Online Library". Thefreelibrary.com. Retrieved 22 August 2017.
  23. ^ "About Us - History". www.assaabloy.com. Assa Abloy. Retrieved 5 June 2019.
  24. ^ "FE Investegate |Assa Abloy Announcements | Assa Abloy: Assa Abloy acquires Ditec, a global leader in e". Investegate.co.uk. 29 July 2009. Retrieved 29 August 2015.
  25. ^ "Assa Abloy Expects Crawford Integration, Efficiency Cost Of SEK 1.33 Bln". Rttnews.com. 22 September 2011. Archived from the original on 19 October 2015. Retrieved 29 August 2015.
  26. ^ "Assa Abloy has finalized the acquisition of Albany Door Systems". Reuters. 11 January 2012. Archived from the original on 19 October 2015. Retrieved 22 August 2017.
  27. ^ "Assa Abloy acquires Mercor SA's fire Doors business Stockholm Stock Exchange:ASSA B". Globenewswire.com. 6 September 2013. Retrieved 29 August 2015.
  28. ^ "Assa Abloy acquires Ameristar". Archived from the original on 2 May 2014. Retrieved 20 August 2019.
  29. ^ Chopping, Dominic (7 November 2013). "Assa Abloy buys U.S. garage-door maker Amarr". MarketWatch. Retrieved 29 August 2015.
  30. ^ Prior, Grant (10 February 2020). "ASSA ABLOY acquires site access specialist Biosite". Construction Enquirer. Retrieved 10 February 2020.
  31. ^ "Corporate Partners". Archived from the original on 9 July 2015. Retrieved 20 August 2019.
  32. ^ "Archived copy". Archived from the original on 8 July 2015. Retrieved 8 July 2015.CS1 maint: archived copy as title (link)
  33. ^ "The World's Most Innovative Companies". Forbes. Forbes. Retrieved 22 August 2017.
  34. ^ "World's Most Innovative Companies". www.rankingthebrands.com. Ranking the Brands. 2014. Retrieved 18 June 2019.
  35. ^ "Assa Abloy on Forbes' List of the World's 100 Most Innovative Companies". www.businesswire.com. Business Wire. Retrieved 18 June 2019.
  36. ^ "Door & Window Market". 17 (8). November 2016: 19. Retrieved 13 June 2019. Cite journal requires |journal= (help)
  37. ^ "Assa Abloy on the Forbes Global 2000 List". www.forbes.com. Forbes. Retrieved 14 June 2019.
  38. ^ "List of the World's Most Innovative Companies". www.forbes.com. Forbes. Retrieved 13 June 2019.
  39. ^ "German Brand Award - The Winners". www.german-brand-award.com. German Brand Award. Retrieved 14 June 2019.

External links[edit]