Dormakaba : Key Systems strengthens position in South America through acquisition of Klaus Group in Peru
May 15, 2018 at 12:38 am EDT
Share
Published on: 15.05.2018Rümlang
dormakaba successfully completed the acquisition of Klaus Group, a market leader for key systems in several South American countries. The company, based in Lima, Peru, produces and distributes key blanks as well as other brass products mostly in South America and serves different distribution channels. It has approximately 200 employees, revenues of around 12 million USD for fiscal year 2017, and holds a strong market position for key blanks in the region.
With this acquisition, dormakaba Key Systems Business Unit strengthens its presence in South America and its market position in the region. Furthermore, the established distribution network of the acquired company allows dormakaba to market its existing products, particularly key cutting machines and automotive solutions. Stefano Zocca, Chief Operating Officer of Key & Wall Solutions Segment states: 'The acquisition allows us to close existing white spots in South America and to further optimize our industrial global footprint. It will also give us the opportunity to establish a competence centre and logistics hub for South America in Lima, Peru, due to its favourable geographical location.'
The parties have agreed to not disclose further financial details of the transaction, which dormakaba expects to be accretive to EPS immediately and to the EBITDA margin in year two.
Download Media Release (PDF)
Attachments
Original document
Permalink
Disclaimer
DORMA+KABA Holding AG published this content on 15 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 15 May 2018 04:37:05 UTC
Dormakaba Holding AG is a Switzerland-based company engaged in the provision of access solutions and systems in the security industry. The Company operates in three business segments: the Access + Data Systems segment products range from mechanical and mechatronic lock cylinders, networked access control solutions, pushbutton locks, digital locking systems, access control and management software, card readers, and hotel locking systems to electronic high-security locking solutions, Automated Teller Machine (ATM) locks, transit and cargo security products, as well as locks and cylinders for Original Equipment Manufacturer (OEM) use; the Key Systems segment offers products, ranging from keys, key blanks and transponder keys to mechanical, electronic and (semi-)industrial key cutting and origination machines, as well as duplication equipment, and Other segment includes operations involving contactless identification systems, which are based on Legic smartcard technology.
DORMAKABA HOLDING AG 
