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ASSA ABLOY Sells PACA ascenseur in France to KONE

PACA is an elevator maintenance business located in Southern France.

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By: DAVID SAVASTANO

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

ASSA ABLOY has sold its elevator maintenance business PACA ascenseur in France to KONE. PACA was part of the acquisition of agta record in 2020.
PACA is an elevator maintenance business located in Southern France. PACA was founded in 1995 and has some 210 employees. Sales in 2022 amounted to about 30 MEUR.

“I find it satisfying that with KONE, PACA and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success,” said Nico Delvaux, President and CEO of ASSA ABLOY.

“In line with our strategy, we continue to focus on our core business portfolio. We believe we have found a good home for the PACA business, which will receive full attention from its new owners to support further development,” says Massimo Grassi, EVP of ASSA ABLOY and head of Entrance Systems Division.
The transaction will have a positive effect on ASSA ABLOY´s operating margin going forward. The capital result is expected to be insignificant. 

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