On February 28, 2025, ASSA ABLOY acquired Wallace & Wallace and Wallace Perimeter Security, a Canadian manufacturer, distributor, and installer of perimeter fencing, doors, and gate solutions for commercial and residential markets. The acquisition supported ASSA ABLOY’s strategy to strengthen its position in mature markets by adding complementary products and solutions to its core business.

Founded in 1946, Wallace & Wallace operates out of Winnipeg, Manitoba, and employed approximately 160 people. In 2024, the company reported sales of approximately CAD 57 million (SEK 440 million), with a strong EBIT margin. The business became part of the Perimeter Security segment within ASSA ABLOY’s Entrance Systems Division. The acquisition was expected to be accretive to ASSA ABLOY’s earnings per share (EPS) from the outset.

McMillan LLP acted as Canadian counsel to ASSA ABLOY on this cross-border transaction. The multidisciplinary team was led by Brett Stewart and Todd Miller and included Stephen Abosi and Laurene Oliveira (Corporate and Private Equity); Paul Boshyk and Khaleed Mawji (Employment & Labour); Yue Fei (Intellectual Property); Ximena Alejandra Pinilla and Kari Kim-Gallately (Commercial Real Estate); and Talia Gordner (Environment). MLT Aikins acted as legal advisor to Wallace & Wallace and Wallace Perimeter Security.

The transaction enhanced ASSA ABLOY’s Perimeter Security portfolio and reinforced its market presence in Central Canada.