Osborne Clarke advises FAAC on acquisition from Assa Abloy of part of Agta Record Group

Osborne Clarke is advising FAAC SpA, an Italian multinational and one of the leaders in automated systems and access control, on its acquisition from Assa Abloy, a leading Swedish multinational operating in the area of access solutions (including locks, doors and intelligent entrance solutions) of a share of the Agta Record Group, together with several of its direct subsidiaries operating in the field of automatic pedestrian doors and high speed doors. These include direct subsidiaries in France and the UK, companies operating under the RECORD brand in the Netherlands, Austria, Hungary and Slovenia, along with the right to exclusive distribution of Agta Record products in Finland, the Czech Republic and Iceland.

The acquisition valued at €100 million, with annual revenues of the acquired business of €93 million, and involving around 600 employees, is the largest acquisition in the company’s history.