Swedish MNC Assa Abloy acquires Enox locks and hardware biz

Swedish multinational Assa Abloy today said it has signed an agreement to acquire locks and hardware business under the Enox brand from Pooja Hardware.
"I am very pleased that the Enox brand is joining Assa Abloy Group," Assa Abloy executive vice-president and head of division Asia Pacific Magnus Kagevik said in a statement, without divulging the deal size.
The acquisition adds complimentary business channels and extensive product range to the existing business of Assa Abloy in the country, it added.
"This will give us access to a new customer base within the fast growing glass hardware segment," Assa Abloy president-India and South East Asia Manu Ahuja said.

Assa Abloy entered the country by winning a contract from the New Delhi International Airport Terminal-3 project in 2009.
PwC was the advisor to Enox for the deal which is expected to close during Q3. Assa Abloy has got 43,000 employees and operations in over 70 countries.