Home

ASSA ABLOY acquires control of Nergeco SA in France

ASSA ABLOY, ABLOY, through its subsidiary, ASSA ABLOY Entrance Systems France SAS, has completed an off market acquisition of 614,408 shares of the French company Nergeco SA from Croissance Nergeco SA and certain minority shareholders. Nergeco SA is one of the leading high-performance door companies in France. The acquired shares represent 87.77% of the share capital and voting rights of Nergeco SA and were purchased for a total purchase price amount of 23,184,661.30 euros, which results in a purchase price per share of 37.7350 euros. The per share purchase price is subject to adjustment on the basis of the net debt of the company pursuant to the terms of the share purchase agreement entered into between ASSA ABLOY Entrance Systems France SAS and Croissance Nergeco SA on 16 October 2015 (the “Share Purchase Price Adjustment”).

Pursuant to the acquisition of the 87.77% majority block of shares of Nergeco SA and according to applicable regulations, a simplified tender offer (offre publique d’achat simplifiée – OPAS, the “Offer”) will be filed with the French Financial Market Authority (AMF) shortly thereafter by Banque Neuflize OBC on behalf of ASSA ABLOY Entrance Systems France SAS for a purchase price per share still to be determined in accordance with the Share Purchase Price Adjustment. The envisaged Offer is conditional upon the authorization by the AMF.

ASSA ABLOY Entrance Systems France SAS will file with the AMF and make available to the public a draft offer information note (projet de note d’information) which will provide detailed information on the Offer. In addition, Nergeco SA will file a draft response note (projet de note en réponse) in which its Board of Directors will render an opinion for the benefit of Nergeco SA, its employees and its shareholders on the merits of the Offer, which note will also be filed with the AMF and made available to the public. This draft response note will include an independent expert report from Ricol Lasteyrie & Associés on the fairness of the financial terms and conditions of the Offer.

It is indicated that, within 3 months of the closure of the Offer, ASSA ABLOY Entrance Systems France SAS reserves the possibility, to the extent the minority interests represent less than 5% of the share capital or voting rights of the company, to pursue a squeeze-out (retrait obligatoire – RO) (followed by a delisting) providing for an indemnification of the minority shareholders.
  Assa Abloy acquires Nergeco


"I am very pleased that Nergeco is joining the ASSA ABLOY Group. I welcome this addition
that further reinforces the ASSA ABLOY Group´s leadership in entrance automation,
growing from SEK 3 billion in 2008 to more than SEK 15 billion proforma in 2014
", says Johan Molin, President and CEO of ASSA ABLOY.


"Nergeco’s market position, competence and product offering is a strong addition to our
current portfolio of high-performance doors, and an important step for us in the French
market
", says Juan Vargues, Executive Vice President of ASSA ABLOY  and Head of Division
Entrance Systems
.


Nergeco SA has requested a trading suspension of its shares from Euronext Paris as of
Friday October 16, 2015 through Monday October 19, 2015.

Nergeco’s sales for 2015 are expected to reach EUR 35 million (approx. SEK 325 million)
with a good EBIT margin. The acquisition will be accretive to EPS from start.
Nergeco was established in 1981 and has some 150 employees. The head office and
factories are located in Dunières, France.


 

Reviews

The first NZ Multi-Composite High Speed Doors Re-Visited

Our partner in New-Zealand for fast acting doors, Acedoors, installed his first multi-composite speed doors in 2007 at the new Bidvest Fresh facility in Avondale, Auckland. Since then Acedoors have installed many more Multi-composite doors. Acedoors asked Bidvest what they think of the doors a few years later.

The doors, made for 11.8 ft high x 7.9 ft wide clear openings, were supplied with the DR60 sealing kits option to meet the design requirements of the consultant. Acedoors were able to supply independent lab test data showing the leakage rates at various positive and negative pressures. The service logs show that the doors perform approximately 100-115 cycles per day, and have no reliability issues, despite being hit on occasion.

Chris Simpson, Bidvest's Operations Manager writes: "Our new distribution centre was designed to operate at a temperature of 40°F and need a reliable fast acting door that could maintain the temperature and not impede the traffic flow."
"We found that new Nergeco Star 5 Labo 5 high speed doors have more than met our needs, easily maintaining the required temperature and traffic flow.
It also has the added advantage over other doors in that it constructed out of a Mulitcomposite material as opposed to steel, giving it a better seal between the legs and the curtain, can be washed down and is corrosion proof.
I am extremely happy with the Nergeco Star 5 Labo and the excellent after sales service we receive from Acedoor Systems Ltd."


Bidvest, the leading national broadline foodservice products distributor in New Zealand
  Fast acting doors at Bidvest facility in New-Zealand

Bidvest is the largest food distributor in New Zealand. With over 1000 staff and 300 trucks, they operate specialist temperature controlled distribution facilities nationwide to service the commercial food industry.
Food safety is paramount to Bidvest, so temperature control within their facilities is critical to the operation.

Acedoors, our fast acting doors partner in NZ

Acedoors staff, during their recent visit at Nergeco's Headquarter.


 

Credits

Nergeco equipped the Naval Air Station of Hyères

Taking part of the infrastructure upgrade of the Naval Air Station of Hyères which welcomes all new Cayman NH90 helicopters, Nergeco has equipped sheds facing the sea with a real wall of more than 6,000 ft2 made of its high performance doors.

High performance doors for helicopters Naval Air station


 

Exhibitions

We want to Thank all of you, especially those coming from abroad, visiting our booth at the SIAL Show 2014 in Paris!
The Show was a success and we appreciate you taking precious time to come discover our novelties within the 17.000 innovations competing during SIAL 2014. We were glad to show you the new Enduro 5 Trekking completing our range of high performance doors dedicated to food processes - all of them enhanced with the Intelligent Curtain®. On each access, the Intelligent Curtain® opens at the last moment without posing a risk if touched, then closes again at the same speed - twice as fast as traditional doors - without endangering users or packages. It therefore reduces accidents and production stoppages, but by shortening the time it is open, it also reduces energy consumption and the risks of airborne contamination.
We hope to see you in the near future, and help you lead your projects with success.
  The food companies in search of innovations at SIAL 2014

Nergeco's high speed doors booth at SIAL 2014


 

Reviews

“The opening and closing cycle is made twice as fast as it is made by standard doors. This permits to reduce the exposure time by 50%” - L’Usine Nouvelle

High performance doors

Enlarge


 

Reviews

DDL Equipment Managing Director Andrew Stewart talks about Nergeco Productivity doors in South Africa

"The new Nergeco extreme condition door is suitable for materials handling applications, including the rapid movement of materials in and out of mines. These production doors are also used to keep dust, created by extreme wind forces and climatic conditions, from blowing into production or processing areas, vehicle maintenance workshops and contaminating materials being conveyed by conveyor belts and haul truck" says DDL MD Andrew Stewart about the industrial doors they chose to install at their customer's sites.
Read more about DDL high performance doors at Electra Mining - South Africa
  Watch the video !

Nergeco high-speed doors in South Africa


 

Exhibitions

The cheese exhibition of Switzerland

Last February 25 and 26 Nergeco displayed their high speed doors in the Cheese Exhibition in the region of Gruyère, Switzerland. Many visitors did appreciate the Star 5 Agro Productivity Door for its real simplicity in the cleaning process. It is even possible to have direct access to the rolling rod itself to wash it. Its multicomposite materials make this high speed door more resistant to corrosion than stainless steel.
Multicomposite drum of Nergeco high speed doors for food industry
  Nergeco - Salon de la Fromagerie - Bulle - Switzland

Find out about our whole Agro range.


 

Exhibitions

Large dimensions and extreme conditions: the mines of South America

Overhead crane flexible door

Recently, one of our high speed doors distributors in Latin America had the opportunity to present its products for the mining industry at a show considered the most important event of the mining sector throughout Latin America.
Visitors were able to discover the products and solutions that have made our distributor one of the major specialist to equip the South America largest mines with flexible doors.
These products are recognized by customers as the most technologically advanced and well designed to operate in heavy duty, high altitude, large wind loads in freezing temperatures, weight of snow and corrosive environment. This, with a quick installation, the minimum of effort on the building, low and easy maintenance, and a still further security.
Congratulations to our Partner Nergeco in Chile, REFRICENTRO.

Nergeco High Performance Door
  Nergeco doors in Expomin_Santiago_Chile

Learn more about our  "Strong winds" high speed doors…


 

Credits

Star Forum for emergency exits

maj/phototheque/photos/mars2010/star_forum_1.jpg
  After close examination, the Central Security Commission of France has agreed that these new Star Forum called "Emergency Exit" can be installed in front of the regulated emergency exits. Find out about the Star Forum for emergency exits adapted to your trade…
Copyright NERGECO 2009 - Legal information & Notices

6186 Centre Park Drive - West Chester - OH 45069
1-888-872-0424 • 1-513-554-3100 • 1-888-872-0454 (fax)