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Benzinga
Benzinga
Business
Akanksha Bakshi

Assa Abloy Acquires 85.7% Stake In Poland-Based Małkowski-Martech

  • Assa Abloy AB (OTC:ASAZY) has acquired ~85.7% stake in Małkowski-Martech S.A. from the Małkowski family, through an off-market transaction, for ~PLN 33 million ($8.08 million).
  • Małkowski-Martech, listed on the Warsaw Stock Exchange, NewConnect market, produces fire-rated curtains and gates. The company, established in 2000, has some 150 employees, with the main office located in Czołowo, Poland.
  • Małkowski-Martech's sales for 2020 amounted to ~ PLN 50 million (~SEK 110 million) with a good EBIT margin. The acquisition will be accretive to EPS from the start.
  • This acquisition strengthens Małkowski-Martech's commercial fire-rated door product portfolio. The combined offering will better address the customer needs for flexibility in building design and ease of installation.
  • Assa Abloy held cash and equivalents SEK 5.99 billion as of September 30, 2021.
  • Price Action: ASAZY shares are trading higher by 1.27% at $15.10 on the last check Thursday.
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