Allegion Acquires Krieger Specialty Products, Expanding Allegion Americas Institutional Market Portfolio
June 04 2024 - 7:00AM
Business Wire
Allegion plc (NYSE: ALLE), a leading global security products
and solutions provider, through one of its subsidiaries, has
acquired Krieger Specialty Products LLC (“Krieger”).
Based in the Los Angeles, California, area, Krieger is a leading
U.S. manufacturer of high-performance special purpose doors and
windows for industrial, commercial and institutional markets.
Krieger’s solutions include security, radio frequency, acoustical,
forced entry, bullet, blast and thermal applications, and they’re
installed in a wide range of facilities ranging from data centers,
hospitals, power plants and government offices to broadcasting
stations, theaters, museums and banks.
Krieger will operate as part of the Allegion Americas segment,
led by Allegion Senior Vice President Dave Ilardi.
“This acquisition broadens our portfolio, while strengthening
our manufacturing presence regionally and bringing together two
strong workplace cultures,” Ilardi said. “Krieger’s high-quality
specialty products will add to the breadth of Allegion’s solutions,
while our specification and institutional market expertise will
fuel demand creation and growth for Krieger. Our businesses will
also create greater manufacturing scale, leveraging our combined
talented teams to best serve customers.”
Krieger CEO Bob McCluney will serve in an advisory capacity,
supporting a smooth transition for the business as it joins
Allegion. Other members of the Krieger management team and
employees will become part of Allegion Americas’ non-residential
business, joining leading doors and frames brands like Steelcraft
and Republic Doors.
“The alignment of Allegion’s and Krieger's cultures is
striking,” McCluney said. “Krieger clearly complements Allegion’s
industry-leading door and frame brands. Our businesses share a
commitment to technical leadership and customer satisfaction.
Moreover, we prioritize investments in our personnel, reflecting
numerous shared core values.”
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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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/20240604790234/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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