Assa Abloy Buys Euro Card Manufacturer
by Security Electronics and Networks | @Access Control Articles | May 23, 2006, 7:00am AEST
Schwab & Partner was founded in 2000 and has since then grown to become one of Europe’s largest card manufacturers. From a manufacturing base in Innsbruck, Austria, it serves mainly the Central European segments for loyalty, hotels, ski, public transportation, event ticketing and access control. The company has approximately 80 employees.
With the acquisition, ASSA ABLOY ITG will strengthen its contactless card manufacturing and customization capacity, shorten delivery times as well as enable the global sales forces to offer greater variety of technology cards.
Schwab & Partner’s annual sales amount to EUR 13M with a good EBIT-margin and the acquisition is expected to be EPS accretive from the date of the acquisition.