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ASSA ABLOY Signs Agreement to Acquire MR Group’s Hardware Division

MR Group’s hardware division is a leading supplier of aluminum profile hardware and locks in Portugal.

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By: DAVID SAVASTANO

Contributing Editor, Coatings World and Ink World, Coatings World and Ink World Magazine

ASSA ABLOY has signed an agreement to acquire MR Group’s hardware division, adding to its portfolio. MR Group’s hardware division is a leading supplier of aluminum profile hardware and locks in Portugal. MR Group´s hardware division has 380 employees, and the company was established in 1976. The main office is located in Águeda, Portugal.

“This acquisition delivers on our strategy to strengthen our position in the mature markets through adding complementary products and solutions to our core business,” said Nico Delvaux, president and CEO of ASSA ABLOY.

Sales for 2020 amounted to about €23 million with a good EBIT margin. The acquisition is subject to regulatory approval and customary closing conditions and is expected to close during the third quarter of 2021.

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