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KBC Private Equity to sell Dynaco to Assa Abloy

KBC Private Equity, the private equity company of KBC Group, has agreed to sell Dynaco Group to Assa Abloy.

Dynaco is an European and North American producer of high-speed doors which has 140 employees with production facilities in Moorsel (Belgium) and in the Chicago region (USA).

The company’s sales are expected to reach EUR51m in 2012.

KBC Private Equity said that the deal will not have any material impact on its profit and capital.

The transaction is expected to close during the first half of 2012 after relevant regulatory approvals.

Sweden-based Assa Abloy is a provider of door opening solutions with sales of around SEK37bn (EUR .2bn) and has 37 000 employees.

KBC Private Equity provides development capital and finances buy-outs to medium-sized companies in Belgium and in Central and Eastern Europe, KBC’s home markets.