06.16.16
ASSA ABLOY has signed an agreement to acquire Nassau in Denmark, an important European supplier of industrial overhead sectional doors.
“I am very pleased that Nassau is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group’s leadership in entrance automation,” said Johan Molin, President and CEO of ASSA ABLOY.
“Nassau has a good foothold in a number of European markets and brings additional competence in sectional doors and service. I welcome the Nassau team to actively participate in our exciting journey,” added Juan Vargues, EVP of ASSA ABLOY and head of Division Entrance Systems.
Nassau was established in 1970 and has approximately 360 employees. The company is headquartered in Ringe, Denmark. Sales for 2016 are expected to reach DKK 440 million ($66.7 million). The transaction is subject to regulatory approval and is expected to close during Q3 2016.
“I am very pleased that Nassau is joining the ASSA ABLOY Group. I welcome this addition that further reinforces the ASSA ABLOY Group’s leadership in entrance automation,” said Johan Molin, President and CEO of ASSA ABLOY.
“Nassau has a good foothold in a number of European markets and brings additional competence in sectional doors and service. I welcome the Nassau team to actively participate in our exciting journey,” added Juan Vargues, EVP of ASSA ABLOY and head of Division Entrance Systems.
Nassau was established in 1970 and has approximately 360 employees. The company is headquartered in Ringe, Denmark. Sales for 2016 are expected to reach DKK 440 million ($66.7 million). The transaction is subject to regulatory approval and is expected to close during Q3 2016.