Mergers and acquisitions have been pretty quiet this year. However, this morning the M&A sector has sprung back to life as ASSA ABLOY announce that they are to acquire Arran Isle Ltd.
This is what ASSA ABLOY had to say this morning via press release:
ASSA ABLOY has signed a definitive agreement to acquire Arran Isle, a leading designer, manufacturer and distributor of door and window hardware in the UK and Ireland.
“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,” says Nico Delvaux, President and CEO of ASSA ABLOY.
“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. Arran Isle have built a reputation developing innovative products and a market leading approach to customer service with a passionate and experienced team,” says Neil Vann, Executive Vice President of ASSA ABLOY and Head of EMEIA Division.
Arran Isle has some 560 employees and was established in 1971. The company has manufacturing and distribution sites in the UK, Ireland, Europe and China.
Sales for 2020 amounted to about MGBP 100 (approx. MSEK 1,200). The acquisition will be accretive to EPS from the start.
The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the fourth quarter of 2021.
Arran Isle Ltd are one of the larger window and door hardware suppliers, owning a number of high-profile brands:
- Carlisle Brass
- Carlisle Brass Collection
Arran Isle operates out of the UK, Europe, China and the Middle East. There has been no statement from Arran Isle yet on their website.
Whether this is a flash in the pan in terms of acquisitions for the rest of the year remains to be seen. It has been quiet this year for M&A, likely down to troubles with supply chains, very high demand and continuing uncertainty. But if things start to settle and the outlook becomes more normalised, then perhaps mergers will take more of a front-seat role in the coming 12 months.
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