ASSA ABLOY said on Monday that it had signed a definitive agreement to acquire Arran Isle, a leading designer, manufacturer and distributor of door and window hardware in Ireland and the United Kingdom.
The acquisition is expected to be finalized during the fourth quarter of 2021, subject to regulatory approval and customary closing conditions.
“I look forward to welcoming Arran Isle into the ASSA ABLOY Group. This acquisition delivers on our strategy to add complementary products and solutions to our core business,” Nico Delvaux, President and Chief Executive Officer of ASSA ABLOY, said in a statement.
Founded in 1971, Arran Isle employs 560 people and has manufacturing and distribution sites located in the United Kingdom, Ireland, Europe and China.
The company reported about GBP 100 million in full-year 2020 sales.
“Arran Isle is an excellent addition to our business and in particular EMEIA’s UK and Ireland market region. The acquisition brings well-known architectural and fenestration hardware brands to our portfolio,” Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division, said.