ASSA ABLOY acquires Lighthouse

SWEDEN—Door opening solutions leader ASSA ABLOY has announced the acquisition of Lighthouse, a US-based sectional door and docking distributor.

“[The deal] reinforces the ASSA ABLOY Group’s leadership in entrance automation, where our sales have grown from SEK 3 billion ($363 million) in 2008 to SEK 18 billion in 2015,” stated Johan Molin, president and CEO of ASSA ABLOY.

“Lighthouse is a strategic step for us in the U.S.A. and we welcome the entire team to ASSA ABLOY Entrance Systems,” Juan Vargues, EVP of ASSA ABLOY and head of Division Entrance Systems, said in the release.

Sales for Lighthouse in 2016 are expected to reach $41 million.