Assa Abloy & Paddock Holdings

Assa Abloy, a global supplier for door and hardware products, recently acquired Paddock Holdings, a company said to be "the UK's largest manufacturer of multipoint locks" with an annual sales report of nearly $50 million. Paddock's product line includes "multipoint door, patio door and windows locks, door cylinders and hinges, handles, letter plates and other accessories," and was introduced into the North American market in 2009. This acquisition will allow both Assa Abloy and Paddock to grow within the marketplace. Assa Abloy executive vice president Tzachi Wiesenfeld said, "Paddock is an important acquisition, which reinforces our position in the fast growing multipoint lock segment." While Paddock CEO, Nigel Hutchinson, is quoted as saying, "with Assa Abloy's backing and investment, we will be able to deliver a broader and more varied range of products to our market place." Since 2009 Generation 4 Sales has served as Paddock's U.S. representative and Paddock company officials assure that things in North American will remain “business as usual."