ASSA ABLOY ANNOUNCES ACQUISITION OF INHEP ELECTRONIC HOLDINGS (PTY) LTD

ASSA ABLOY has signed an agreement to acquire Inhep Electronics Holdings (Pty) Ltd, the leading manufacturer and distributor of intrusion detection products in Sub-Saharan Africa, from Metier, an African private equity fund manager. Through this acquisition, ASSA ABLOY SA plans to further expand its product offering for its customers.  The acquisition becomes effective upon approval by the South African Competition Commission.

Inhep Electronics Holdings (Pty) Ltd, trading as Inhep Digital Security (IDS) formed in 1985, has sales of over R250 million a year and employs 189 people in its facilities in Pinetown, KwaZulu Natal. IDS has an excellent track record in product innovation, with a number of unique product offerings for the African market.

Given the strong commercial synergies between Inhep Electronics Holdings (Pty) Ltd and ASSA ABLOY (SA) Pty Ltd, in particular with the electronic door solutions business unit, the acquisition will create opportunities for both businesses to leverage their respective capabilities enabling them to service and develop their combined customer base more effectively into the future.

IDS will continue to operate as an autonomous business unit, retaining the existing, strong commercial and operational team that has made the business successful today.

Announcing the acquisition, John Middleton, Market Region Manager of ASSA ABLOY Africa & Middle East, said: “I am very pleased to welcome IDS.  IDS has a strong track record of growth and innovative product development. It offers an exciting new range of products in intrusion detection and security, expanding ASSA ABLOY’s range from door opening solutions to a broader array of security and access control solutions for our customers in Africa”.

For more information please contact:

Hayley Elwen: Business Development Manager: Africa & Middle East

011-761-5000

082-466-4221

Hayley.elwen@assaabloy.com