Allegion Acquiring Stanley Access
♦ Allegion Acquiring Stanley Access Technologies for $US900 million in cash after signing an agreement recently.
Access Technologies is a manufacturer, installer and service provider of automatic doors in the United States and Canada, and generated around $340 million in net sales in 2021.
“We are excited to add the Access Technologies business to our portfolio of solutions,” said David D. Petratis, Allegion chairman, president and CEO.
“With this acquisition, we will expand in an adjacent market segment, ultimately providing customers and end users with a more comprehensive offering for seamless access wherever they reside, work and thrive. Combining Access Technologies’ high-quality products and services with our ability to deliver value through access will significantly expand our core business and accelerate growth.
“Access Technologies shares a strong track record of innovation and is a market leader in its category. We look forward to welcoming the team to the Allegion family and unlocking greater value for our customers and our shareholders.”
Allegion plc is an American Irish-based provider of security products for homes and businesses. The $12 billion company sells 31 global brands in more than 130 countries across the world, including CISA, Interflex, LCN, Schlage and Von Duprin.
#sen.news #SEN #SENnews #security #electronics
