Allegion Completes Acquisition of Stanley Black & Decker’s Access Technologies Business
05 Juillet 2022 - 2:45PM
Business Wire
Allegion plc (NYSE: ALLE), a leading global security products
and solutions provider, has, through its subsidiaries, completed
the previously announced acquisition of Stanley Access Technologies
LLC (“Access Technologies”) and assets related to the automatic
entrance solutions business from Stanley Black & Decker, Inc.
(NYSE: SWK) for $900 million in cash.
Access Technologies is a leading manufacturer, installer and
service provider of automatic doors in North America, primarily in
the United States and Canada. Its diversified customer base centers
on non-residential settings, including retail, healthcare,
education, commercial offices, hospitality and government. Access
Technologies generated approximately $340 million in net sales in
2021.
“This acquisition bolsters Allegion’s seamless access strategy
with a category market leader, while growing the Allegion Americas
core business through adjacent automatic entrance products and
installation and maintenance services,” said David D. Petratis,
Allegion chairman, president and CEO. “In addition, the Allegion
team is proud to welcome Access Technologies’ dedicated employees,
who bring immense talent and expertise in safety, security and
service.”
Allegion announced its intent to purchase the Access
Technologies business on April 22, 2022. For more information, see
the original press release. Additional details will be provided at
the company’s second-quarter 2022 earnings call on Thursday, July
28, 2022.
About Allegion
Allegion (NYSE: ALLE) is a global pioneer in seamless access,
with leading brands like CISA®, Interflex®, LCN®, Schlage®,
SimonsVoss® and Von Duprin®. Focusing on security around the door
and adjacent areas, Allegion secures people and assets with a range
of solutions for homes, businesses, schools and institutions.
Allegion had $2.9 billion in revenue in 2021, and its security
products are sold around the world. For more, visit
www.allegion.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within
the meaning of the Private Securities Litigation Reform Act of
1995, Section 27A of the Securities Act of 1933, and Section 21E of
the Securities Exchange Act of 1934, including statements regarding
the continued impacts of the global COVID-19 pandemic, supply chain
constraints, electronic component and labor shortages, inflation,
rising freight and material costs, impacts of Russia’s invasion of
Ukraine including further supply chain disruptions and the
increased risk of cyber-attacks in connection with such invasion,
the company's 2022 financial performance, the company’s business
plans and strategy, the company’s growth strategy, the company’s
capital allocation strategy, the company’s tax planning strategies,
and the performance of the markets in which the company operates.
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relate to such matters as projections of revenue, margins,
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assumptions underlying any of the foregoing. These statements are
based on the company's currently available information and our
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events. They are subject to future events, risks and uncertainties
- many of which are beyond the company’s control - as well as
potentially inaccurate assumptions, that could cause actual results
to differ materially from those in the forward-looking statements.
Further information on these factors and other risks that may
affect the company's business is included in filings it makes with
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quarter ended March 31, 2022, and in its other SEC filings. The
company undertakes no obligation to update these forward-looking
statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20220705005392/en/
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+1.317.810.3241 Whitney.Moorman@allegion.com
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