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ASSA ABLOY, through its subsidiary, HID Global SAS, acquires 98.5% of Evolis in France and confirms the forthcoming filing of a public tender offer to acquire the remaining Evolis shares


STOCKHOLM, Sept. 20, 2023 /PRNewswire/ — Pursuant to the Press Release of July 19, ASSA ABLOY has acquired, through its subsidiary HID Global SAS (“HID”), approximately 98.5 percent of the shares of Evolis S.A. (“Evolis”), a Euronext Growth company listed in Paris and the leading French manufacturer of ID card printers and consumables. In particular, HID purchased all of the Cedys & Co S.A.S. (“Cedys”) shares resulting in the indirect acquisition of approximately 84.4 percent (i.e. 4,407,707 shares) of the Evolis shares held by Cedys and the direct acquisition of 14.0 percent of Evolis shares from each of Crédit Mutuel Equity SCR and Crédit Mutuel Innovation (i.e. respectively 732,632 and 10 shares).

The above transactions resulted in a combined purchase price paid of approximately EUR 224.9 million for 98.5 percent of the Evolis shares (i.e. 5,140,349 shares), which is equivalent to a purchase price per Evolis share of EUR 43.75 (the “Acquisition”).

In the coming days, HID will file a mandatory simplified public tender offer followed by a squeeze-out (OPAS-RO)1 to acquire the balance of the remaining 80,471 Evolis shares2 at the same purchase price per Evolis share as the EUR 43.75 price per Evolis share paid in the Acquisition (the “Offer”). Immediately prior to the Acquisition, the Evolis board of directors recommended that shareholders tender their shares to the Offer which recommendation references the fairness opinion of Accuracy, the Evolis appointed independent appraiser, confirming the fairness of the tender offer price. The Offer will require a clearance decision (avis) from the AMF (French Financial Markets Authority – AMF – Autorité des Marchés Financiers).

After the closing of the Offer, HID will implement, in accordance with the provisions of the General Rules (Règlement Général) of the AMF, a squeeze-out procedure for the remaining outstanding shares of Evolis. HID intends to complete the Offer and squeeze-out during the fourth quarter of 2023. 

The total amount paid for the Acquisition, the Offer and the squeeze-out, would amount to approximately EUR 228.4 million.

For more information, please contact:

Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82

Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72

Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68,

e-mail: [email protected] 

About ASSA ABLOY

The ASSA ABLOY Group is the global leader in access solutions. The Group operates worldwide with 52,000 employees and sales of SEK 121 billion. The Group has leading positions in areas such as efficient door openings, trusted identities and entrance automation. ASSA ABLOY’s innovations enable safe, secure and convenient access to physical and digital places. Every day, we help billions of people experience a more open world.

1 OPAS: mandatory simplified public tender offer to be implemented pursuant to Art. 233-12 of the RGAMF because HID, as the Offeror, will own more than 50 percent of the shares and voting rights of Evolis at the time the tender offer is initiated.

2 Excluding 3,542 free shares which will be issued between 2024 and 2025.

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