Allegion to Acquire Zero International, Add Recognized Brand to New Construction Solutions Portfolio
Allegion, plc (NYSE:ALLE) , a leading global security products and solutions provider, has agreed, through Schlage Lock Company, to acquire Zero International Inc. Zero, a technical solutions brand, is a recognized leader in door and window products for commercial spaces.
Allegion Senior Vice President and President of the Americas Tim Eckersley said that Zero is a valuable addition to the business portfolio that will help Allegion drive greater differentiation and compete more effectively in the new construction and aftermarket space. Zero’s product lines include a full array of premium sealing systems, such as sound control, fire and smoke protection, threshold applications, and lites and door louvers. Like Allegion, Zero’s products have an international presence.
“Our team includes many talented specification writers for new construction projects, and we are particularly savvy in creating application-specific security solutions for institutional and commercial segments,” Eckersley said. “With the high-quality and engineered product portfolio from Zero, we can expand our offering to include threshold and weather-stripping applications, bringing additional value to our customers. This will also allow us to leverage our impact in international markets where Zero already has a footprint.”
With this acquisition, Allegion expands its presence in the door and hardware accessories market. The new Zero suite of products will allow Allegion to increase its emphasis on green building applications that support heating and cooling efficiency, as well as delivering the sound dampening and fire and smoke sealing solutions that commercial customers are seeking.
Zero President Elias Wexler said the acquisition was a strategic one for both companies.
“I couldn’t be happier to add Zero’s product expertise to the Allegion portfolio,” Wexler said. “There is a natural synergy between our two companies. We align not only in creating innovative solutions, but also in offering significant value to our customers. Allegion was the only company that I would consider taking this step with. The opportunities for growth are multiplied by working together.”
This news release includes “forward-looking statements,” which are statements that are not historical facts, including statements that relate to our business and growth strategy. These forward-looking statements are based on the Company’s currently available information and our current assumptions, expectations and projections about future events. They are subject to future events, risks and uncertainties – many of which are beyond our 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 December 31, 2013, Form 10-Qs for the quarters ended March 31, 2014, June 30, 2014 and September 30, 2014. The Company assumes no obligations to update these forward looking statements.
Allegion (NYSE:ALLE) creates peace of mind by pioneering safety and security. As a $2 billion provider of security solutions for homes and businesses, Allegion employs more than 8,000 people and sells products in more than 120 countries across the world. Allegion has more than 25 global brands, including strategic brands CISA(R), Interflex(R),LCN(R), Schlage(R) and Von Duprin(R). For more, visit www.allegion.com.
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