ASSA ABLOY Acquires Mottura in ItalyApril 3rd, 2023 by Editor
ASSA ABLOY announced last week that it has signed an agreement to acquire Mottura Serrature di sicurezza Spa (Mottura), an Italian manufacturer of residential armored lock cases and security cylinders.
“We are committed to growing our presence in the Italian market and the acquisition of Mottura provides a great step in strengthening our position in the residential space. I look forward to welcoming Mottura and their employees into the ASSA ABLOY Group,” says Nico Delvaux, president and CEO of ASSA ABLOY.
Mottura was established in 1972 and has some 120 employees. The main office is located in Sant’Ambrogio di Torino, near to Torino, Italy.
“Mottura and its great team is a fantastic addition to the ASSA ABLOY EMEIA family. Mottura is a great brand that stands for quality, high security and is recognized and respected in Italy and beyond,” says Neil Vann, executive vice president of ASSA ABLOY and head of its EMEIA division.
Sales for 2022 amounted to about $28M EUR, with what ASSA ABLOY calls “a good EBIT margin.” The acquisition will be accretive to EPS from the start and is subject to customary closing conditions. The transaction is expected to close during the second quarter of 2023.