Allegion plc, a security products and solutions provider has, through its subsidiaries, completed the previously announced acquisition of Stanley Access Technologies LLC (“Access Technologies”) and assets related to the automatic entrance solutions business from Stanley Black & Decker, Inc. for $900 million in cash.
Access Technologies is a manufacturer, installer and service provider of automatic doors in North America, primarily in the United States and Canada.
Its diversified customer base centres on non-residential settings, including retail, healthcare, education, commercial offices, hospitality and government. Access Technologies generated approximately $340 million in net sales in 2021.
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“This acquisition bolsters Allegion’s seamless access strategy with a category market leader while growing the Allegion Americas core business through adjacent automatic entrance products and installation and maintenance services,” said David D. Petratis, Allegion chairman, president and CEO.
“In addition, the Allegion team is proud to welcome Access Technologies’ dedicated employees, who bring immense talent and expertise in safety, security and service.”
Allegion announced its intent to purchase the Access Technologies business on April 22, 2022.
