DUBLIN--(EON: Enhanced Online News)--Allegion, plc (NYSE: ALLE), a leading global security products and solutions provider, has acquired Republic Doors & Frames, Inc. (Republic) through one of its subsidiaries.
Republic manufactures hollow metal doors and frames, complementing Allegion’s Steelcraft® brand and core business in the Americas region. Headquartered in McKenzie, Tenn., Republic generated approximately $20 million in net sales for the period ending Dec. 31, 2015. Additionally, Republic’s footprint includes five regional service centers in Atlanta, Dallas, Orlando, Houston and Seattle that provide for faster servicing of local customers in these key markets.
“By adding Republic Doors & Frames to the Allegion family, we’re expanding our product offering, improving our operating efficiency and growing our distribution footprint,” said Tim Eckersley, Allegion senior vice president and president of the Americas. “This will not only drive growth for us in the U.S., but will enhance the overall customer experience in this sector that’s core to our business.”
Republic’s president, Mike Taylor, will remain in a consulting capacity and focus on a smooth integration. Other members of the Republic management team will become part of the Americas doors and frames business.
“Allegion is committed to providing customers with quality in terms of both product and service, which closely aligns with Republic’s own business values,” said Taylor. “This transaction provides Republic with important opportunities for growth, and I look forward to the role we’ll play in meeting the needs of both Allegion and Republic customers.”
Terms of the transaction were not disclosed.
This press release contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements that relate to the acquisition’s impact on the Company’s financial and operational performance, the acquisition’s ability to drive growth and the integration of the acquisition. These forward-looking statements are based on the Company's current available information and its current assumptions, expectations and projections about future 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 the Securities and Exchange Commission from time to time, including its Form 10-K for the year ended Dec. 31, 2015, Forms 10-Q for the quarters ended March 31, 2016, June 30, 2016 and Sept. 30, 2016, and in its other SEC filings. The Company assumes no obligations to update these forward-looking statements.
Allegion (NYSE: ALLE) is a global pioneer in safety and security, with leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Focusing on security around the door and adjacent areas, Allegion produces a range of solutions for homes, businesses, schools and other institutions. Allegion is a $2 billion company, with products sold in almost 130 countries.
For more, visit www.allegion.com.