Assa Abloy facts for kids

Quick facts for kids
Assa Abloy AB

Type	Public
Traded as	OMX: ASSA B
ISIN	ISIN: [https://isin.toolforge.org/?language=en&isin=SE0007100581 SE0007100581]
Industry	Manufacturing and services
Founded	1994; 31 years ago (1994)
Headquarters	Stockholm, Sweden
Key people	Johan Hjertonsson (chairman) Nico Delvaux (president and CEO)
Products	Locks, automatic and security doors
Revenue	140.7 kr billion (2023)
Operating income	22.18 kr billion (2023)
Net income	13.64 kr billion (2023)
Total assets	196.3 kr billion (2023)
Total equity	91.64 kr billion (2023)
Number of employees	61,000 (2023)

Assa Abloy AB is a big company from Sweden. It makes and sells many things related to keeping places safe. This includes different kinds of locks, doors, gates, and automatic entrance systems. They also create ways to control who can enter a place and check people's identities. This can be done using keys, special cards, tags, mobile phones, or even biometrics (like fingerprints).

The company started in 1994. It was formed when a Swedish company called Assa AB joined with a Finnish lock maker called Abloy Oy. Soon after, Assa Abloy became a public company, meaning its shares could be bought and sold on the Stockholm Stock Exchange. Since then, Assa Abloy has grown a lot by buying over 300 other companies around the world. Some well-known brands they bought include Yale, Chubb Locks, and Mul-T-Lock.

What's in a Name?

The name Assa Abloy comes from the two original companies that merged in 1994: Assa and Abloy.

• Assa is short for August Stenman Stenman August. This name comes from the founder, August Stenman.
• Abloy is a shorter way of saying "Aktiebolag Låsfabriken Lukkotehdas Oy." This long name means "Corp. Lock Factory Lock Factory Corp." in both Swedish and Finnish. Later, in 1919, the company's name was simplified to "Aktiebolag Lukko Osakeyhtiö," which means "Corp. Lock Corp."

How the Company Started and Grew

From Local to Global

Assa Abloy was created in 1994 when the Swedish company ASSA and the Finnish company Abloy joined together. In the same year, the company's shares were listed on the Stockholm Stock Exchange.

When it started in 1994, Assa Abloy was a regional company with about 4,700 employees. By 2023, it had grown into a huge global group with 61,000 employees. The company has increased its sales by more than 9% each year. Today, it works in over 70 countries around the world. In 2023, the company's sales were about 140.7 billion Swedish kronor.

Key Companies Assa Abloy Has Acquired

Assa Abloy has grown a lot by buying other companies. These acquisitions have helped them offer more products and services.

• In 1999, they bought Effeff Fritz Fuss in Germany. This helped Assa Abloy start making electronic locks. They also bought Mul-T-Lock from Israel, which makes very secure locks.
• In 2000, Assa Abloy became twice as big when it bought Yale Intruder Security, a global lock company. In the same year, they bought HID, which added electronic identification products to their business.
• In 2002, Assa Abloy bought Besam, a Swedish company known for automatic doors that open and close by themselves.
• They also acquired Fargo Electronics, a company that makes systems for creating secure credit, bank, and ID cards.
• Later, in 2007, they bought Baodean in China and Irevo in South Korea.
• In 2009, Ditec, an Italian company making automatic doors, joined Assa Abloy.
• More important purchases happened in 2011, including Crawford and Flexiforce.
• In 2012, they acquired Traka, a company that helps manage keys and other important items. They also bought Albany Door Systems, which makes very fast industrial doors.
• In 2013, they added Mercor SA (a Polish company making fire and security doors), Ameristar USA, and Amarr to their group.
• In 2018, Assa Abloy acquired Lorient, a UK company that designs door sealing systems. They also bought HKC, an Irish company that makes alarm systems.
• In December 2018, Luxer One, a US company that makes package lockers, became part of Assa Abloy.
• In February 2020, Biosite, a UK company focused on biometric access (like fingerprint scanners) and workforce management, was acquired.
• In May 2021, Sure-Loc, a top supplier of locks for homes in the US, joined the group.
• In September 2021, Assa Abloy announced a big purchase: the Hardware and Home Improvement (HHI) division of Spectrum Brands. This deal was completed in June 2023. HHI makes many products, including Kwikset, Baldwin, Weiser, and Pfister locks. These brands offer smart locks and special key technologies.
• In August 2022, ALCEA, a company specializing in access control solutions, was acquired.
• In December 2022, Assa Abloy acquired Janam Technologies, a New York-based company that makes tough mobile computers and readers.
• In October 2023, Securitech Group Inc., a New York company making high-security door hardware, was acquired.
• In late July 2024, Assa Abloy shared plans to acquire SKIDATA.
• In late 2024, HKC, an Irish company owned by Assa Abloy, launched an online portal for its customers.

Brands You Might Know

Assa Abloy owns many different brands around the world. Here are some of them:

Working with Universities

Assa Abloy works closely with the Stockholm School of Economics. They are a "Corporate Partner," which means they help fund the school. This partnership allows them to work together on research and education projects.

See also

• List of Swedish companies