ASSA ABLOY announces acquisition of Canada’s Leone Fence

ASSA ABLOY said on Tuesday that it had acquired Leone Fence, an Ontario, Canada-based manufacturer, distributor and installer of fencing products for commercial and residential applications.

Established in 1975, Leone Fence currently employs about 60 people.

The Canadian company’s revenue for the full year 2022 stood at around CAD 39 million (nearly SEK 300 million) with a strong EBIT margin.

The acquisition will be accretive to earnings per share from the beginning, ASSA ABLOY said.

“I am very pleased to welcome Leone Fence into the ASSA ABLOY Group. This acquisition reinforces our current offering within perimeter security in the Canadian market,” Nico Delvaux, President and Chief Executive Officer of ASSA ABLOY, said in a press release.

“The acquisition of Leone Fence presents an exciting opportunity within our Perimeter Security offering. By combining our core competencies, we can strengthen our ability to quickly enter the market, develop new products, and expand our overall presence in the Canadian market,” Massimo Grassi, Executive Vice President of ASSA ABLOY and Head of Entrance Systems Division, commented.