The BDO Birmingham Transaction Services team carried out financial and tax due diligence for Assa Abloy’s acquisitions of eTag Solutions Ltd and Intelligent Locking Systems Ltd (ILS). Listed in Sweden, and with worldwide operations, Assa Abloy is the largest global supplier of intelligent lock and security solutions. eTag provides key tracking and lock cabinet solutions, mainly to the automotive (retail) industry. ILS develops, manufactures and installs high security combination locks.
"BDO took a hands on approach to the Financial Due Diligence and presented a clear picture of the businesses, demonstrating how they would be measured against our KPI's and accounting policies. Our legal advisors specifically commended the quality of the tax analysis, which was crucial in the SPA drafting and vendor negotiations".
Graham Penter, Financial Controller