ASSA ABLOY acquires Brazil-based Inovadoor
By SSN Staff
Updated 9:52 AM CDT, Tue October 3, 2023
STOCKHOLM—ASSA ABLOY announced it has acquired Inovadoor Portas Industriais Ltda, a Brazilian manufacturer of sectional and high-speed doors.
"I am very pleased to welcome Inovadoor into the ASSA ABLOY Group. This acquisition delivers on our strategy to reinforce our current offering within entrance automation in emerging markets,” said Nico Delvaux, president and CEO of ASSA ABLOY.
“By leveraging Inovadoor’s local manufacturing capabilities, nationwide reach, and exceptional reputation, we will strengthen our footprint in Brazil and pave the way for future expansion and growth opportunities in both Brazil and throughout Latin America,” noted Massimo Grassi, executive vice president of ASSA ABLOY and head of the company's Entrance Systems Division.
Inovadoor was founded in 1997 and has an estimated 100 employees. The main office and factory are located in Pinhais, close to the city of Curitiba, Brazil. Sales for 2022 amounted to about MBRL 52 (approx. MSEK 100). The acquisition will be accretive to earnings per share (EPS) from the start.
For more information visit https://www.assaabloy.com.
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