LOS ANGELES--(BUSINESS WIRE)--ASSA ABLOY announced it has acquired LifeSafety Power, a leading supplier of smart integrated access control power solutions for OEMs, integrators and end-users. LifeSafety Power was established in 2009 and has some 65 employees. Its main office is located in Libertyville, Ill. Sales for 2019 are expected to reach about USD $30 million with a good EBIT margin and the acquisition will be accretive to ASSA ABLOY earnings per share from the start.
“LifeSafety Power is a great complement to our access control portfolio — we are looking forward to incorporating their knowledge of power supply as well as power consumption throughout our access control portfolio,” says Lucas Boselli, executive vice president of ASSA ABLOY and Head of the Americas Division.
“This transaction demonstrates Imperial Capital’s deep category expertise in hardware, software and service businesses in the broadly defined security sector. LifeSafety’s intelligent power platform was identified by Imperial early on as a highly innovative and novel power delivery and management platform for critical security and life safety systems that provides integrators and property owners enormous productivity gains and savings,” said Bill Lynch, Managing Director of Investment Banking at Imperial Capital.
“Imperial Capital understood our business and ran a very thorough process to help us find the right partner in ASSA ABLOY who will take our business to the next level,” said Larry Ye, CEO, LifeSafety Power. He continued to say, “We’re excited about the acquisition and the opportunity to continue to innovate under the strength of the ASSA ABLOY platform.”
About Imperial Capital, LLC
Imperial Capital, founded in 1997, is a full-service investment banking firm with offices in Los Angeles, New York, London, Stamford, Boston, Chicago, Houston and Tel Aviv. The firm currently employs over 200 professionals and offers a wide range of proprietary products and services to institutional investors, middle market companies and private equity firms. Imperial Capital provides institutional clients research and sales and trading of high yield and distressed debt securities, bank debt, convertible bonds, preferred stocks, and equities. The firm provides middle market companies and financial sponsors with capital markets, merger and acquisitions, capital structure, restructuring and recapitalization advisory services. More information about Imperial Capital can be found at www.imperialcapital.com.