Metier, the South African private equity firm, has reached an agreement to sell Inhep Electronics Holdings to Assa Abloy. Metier first acquired the company in late 2007 via the Lereko Metier Capital Growth Fund. Terms of the deal, which is subject to regulatory approval, were not disclosed.
Inhep Electronics Holdings, trading as Inhep Digital Security, manufactures and sells intrusion detection products across sub-Saharan Africa. The company, which employs 189 people, generates sales of R250 million (or $19.5 million) per year from its facilities in Pinetown in the South African province of KwaZulu Natal. With the strong commercial synergies unleashed by the deal, it’s expected that the acquisition will allow both businesses to service their combined customer bases more efficiently in the future.
Post-acquisition, it’s expected that Inhep Digital Security will continue to operate as an autonomous business unit.