Paca is an elevator maintenance business located in Southern France, was founded in 1995, and has some 210 employees. Sales in 2022 amounted to about 30 MEUR.

"I find it satisfying that with Kone, Paca and its employees and customers get a committed long-term owner, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of Assa Abloy.

"In line with our strategy, we continue to focus on our core business portfolio. We believe we have found a good home for the Paca business, which will receive full attention from its new owners to support further development," says Massimo Grassi, Executive Vice President of Assa Abloy and Head of Entrance Systems Division.

According to the company, the transaction will have a positive effect on Assa Abloy´s operating margin going forward and the capital result is expected to be insignificant.