Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, has acquired, through one of its wholly owned subsidiaries, Dorcas (Montajes electronicos Dorcas S.L.).
Dorcas is a leading manufacturer of electro-mechanical access control solutions. The privately held company is based in Siete Aguas (Valencia region), Spain, where it specializes in the production of electric strikes, electro-mechanical and electro-magnetic locks, as well as complementary access control solutions and door control products. Dorcas solutions are distributed and sold internationally with a strong presence across European markets, including healthcare and education verticals.
Dorcas will operate as part of the Allegion International segment, led by Allegion Senior Vice President Tim Eckersley.
"Dorcas' electric strikes and locks are integral elements of access control systems, and adding this business to Allegion International is another strategic investment in the health and quality of our portfolio," Eckersley said. "Combined, our teams will specify and supply a broader range of seamless access solutions across customers and channels."
To support a smooth integration, Dorcas CEO Pablo Ibáñez will join Allegion as managing director of the Dorcas business.
"Joining Allegion offers new routes to market and accelerated growth opportunities for Dorcas," Ibáñez said. "Our cultures of innovation and putting customers first align, providing a very exciting future ahead."
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, statements regarding the company's ability to successfully integrate the business, the company's ability achieve the anticipated strategic and financial benefits of the acquisition, the company's business plans and strategy, the company's growth strategy, the company's capital allocation strategy, the competitive environment, and the performance of the markets in which the company operates. These forward-looking statements generally are identified by the words "believe," "aim," "project," "expect," "anticipate," "estimate," "forecast," "outlook," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" or the negative thereof or variations thereon or similar expressions generally intended to identify forward-looking statements. Forward-looking statements may relate to such matters as projections of revenue, margins, expenses, tax rate and provisions, earnings, cash flows, benefit obligations, dividends, share purchases or other financial items; any statements of the plans, strategies and objectives of management for future operations, including those relating to any statements concerning expected development, performance or market share relating to our products and services; any statements regarding future economic conditions or our performance; any statements regarding pending investigations, claims or disputes; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Undue reliance should not be placed on any forward-looking statements, as these 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 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. Important factors and other risks that may affect the company's business or that could cause actual results to differ materially are included in filings the company makes with the Securities and Exchange Commission from time to time, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q and in its other SEC filings. All forward-looking statements in this press release are expressly qualified by such cautionary statements and by reference to the underlying assumptions. The company undertakes no obligation to update these forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240304303615/en/
Contacts:
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
