Allegion Acquires Republic Doors & Frames
January 03 2017 - 5:00PM
Business Wire
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.
About Allegion™
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.
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version on businesswire.com: http://www.businesswire.com/news/home/20170103006095/en/
Allegion, plcMediaMaria Pia Tamburri,
317-810-3399Director, Public
AffairsMaria.Tamburri@allegion.comorAnalystsMike Wagnes,
317-810-3494Vice President, Treasurer and Investor
RelationsMichael.Wagnes@allegion.com
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