(BRIEF) ASSA ABLOY has completed the sale of its elevator maintenance business, PACA Elevator (“PACA”), located in the South of France, to KONE. The sale is part of ASSA ABLOY’s strategic orientation in its portfolio of core activities. PACA, with approximately 210 employees and a turnover of approximately 30 MEUR in 2022, was first acquired as part of the acquisition of agta record in 2020. This transaction is expected to have a positive effect on ASSA ABLOY’s operating margin going forward, with an expected capital result of negligible. Array
(PRESS RELEASE) STOCKHOLM, February 3, 2024 — /EuropaWire/ — ASSA ABLOY has sold its PACA elevator business (“PACA”) in France to KONE. PACA participated in the acquisition of Agta Record in 2020.
PACA is an elevator maintenance company located in the South of France. PACA was founded in 1995 and has about 210 employees. Sales in 2022 amounted to around €30 million.
“I find it satisfying that with KONE, PACA and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“In line with our strategy, we continue to focus on our core business portfolio. We have discovered smart floors for the PACA business, which will get the full attention of their new owners to help their further development,” says Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of the Systems Division. entrance.
The transaction will have an effect on ASSA ABLOY’s operating margin going forward. The capital result is expected to be negligible.
About ASSA ABLOY
The ASSA ABLOY Group is a world leader in solutions. The organisation has a global presence with 52,000 employees and a turnover of SEK 121 billion. The Group holds leadership positions in spaces such as effective door openings, trusted identities, and access automation. ASSA ABLOY’s inventions enable safe and convenient physical and virtual locations. Every day, we help billions of people notice a more open world.
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SOURCE: ASSA ABLOY
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