Allegion Acquires SOSS Door Hardware, Adding Another Category Leader to Its Safety and Security Portfolio
18 Octobre 2024 - 1:00PM
Business Wire
Allegion plc (NYSE: ALLE), a leading global security products
and solutions provider, through one of its subsidiaries, has
acquired SOSS Door Hardware (SOSS).
A leading manufacturer of premium hinges and door hardware, SOSS
primarily sells its solutions in North American non-residential
markets. Founded in 1903, the company invented the concealed hinge;
today, it’s signature SOSS Invisible Hinge as well as fire-rated,
heavy-duty and other specialty hinges are popular across
industrial, commercial and institutional spaces.
SOSS will report into the Allegion Americas segment, led by
Allegion Senior Vice President Dave Ilardi.
“SOSS is a pioneer with more than a century of manufacturing
high-quality safety and security products, just like other leading
Allegion brands,” Ilardi said. “SOSS solutions complement our Ives,
Glynn-Johnson and Zero International door hardware, allowing us to
specify and supply a broader portfolio to our customers, and
ultimately growing this core part of our business.”
Terms of the transaction were not disclosed.
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 $3.7 billion in revenue in 2023, 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, but not limited to,
the company’s ability to successfully integrate the acquisition,
achieve anticipated strategic and financial benefits from the
acquisition, and statements regarding the company's 2024 and future
financial performance, the company’s business plans and strategy,
the company’s growth strategy, the company’s capital allocation
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assumptions underlying any of the foregoing. Undue reliance should
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cause actual results to differ materially from those in the
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may affect the company's business or that could cause actual
results to differ materially are included in filings the company
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version on businesswire.com: https://www.businesswire.com/news/home/20241018004247/en/
Media Contact: Whitney Moorman – Director, Global
Communications 317-810-3241 Whitney.Moorman@allegion.com Analyst
Contacts: Jobi Coyle – Director, Investor Relations
317-810-3107 Jobi.Coyle@allegion.com Josh Pokrzywinski – Vice
President, Investor Relations 463-210-8595
Joshua.Pokrzywinski@allegion.com
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