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Allegion (ALLE) Completes Acquisition of Trelock GmbH
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Allegion, plc (ALLE - Free Report) , the global leader of security solutions/products manufacturing, announced that it has completed the acquisition of Germany-based safety and security provider, Trelock GmbH and related companies. The financial terms of the transaction were not disclosed.
Allegion had revealed its plans to acquire Trelock GmbH in May this year. Trelock makes branded bicycle locks, lights and electronic control units. Trelock will be a part of Allegion’s Europe, Middle East, India and Africa (EMEIA) region. The acquisition will broaden Allegion’s product portfolio and will complement its Kryptonite and AXA brands in the U.S. and European bicycle markets. It will also expand Allegion’s geographic footprint along with enhancing its position in strategic market segments.
Acquisitions are an important aspect of Allegion’s growth strategy. The company is trying to improve its long-term results by focusing on strategic acquisitions and regular innovations. Notably, Allegion completed the acquisition of South Korea-based producer of innovative electronic door locks – Milre Systek Co., Ltd. – last August. The company also purchased Europe-based security providers – AXA Stenman Holding and SimonsVoss Technologies GmbH – in Sep 2015. These acquisitions have strengthened the company’s presence in Europe.
Allegion commands a strong position in the North American security market. The company primarily relies on the commercial and residential construction and remodeling space, which has been picking up momentum of late, especially in the U.S. However, some of the headwinds faced by the company include the slowdown in the Chinese economy and declining demand in the still-recovering European market. Also, a stronger dollar continues to pose headwinds to the company’s top line.
Allegion has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the protection and safety industry are Brady Corp. (BRC - Free Report) , Ascent Capital Group, Inc. and Alarm.Com Holdings, Inc. (ALRM - Free Report) . While Brady Corp. sports a Zacks Rank #1 (Strong Buy), Ascent Capital Group and Alarm.Com hold a Zacks Rank #2 (Buy).
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Allegion (ALLE) Completes Acquisition of Trelock GmbH
Allegion, plc (ALLE - Free Report) , the global leader of security solutions/products manufacturing, announced that it has completed the acquisition of Germany-based safety and security provider, Trelock GmbH and related companies. The financial terms of the transaction were not disclosed.
Allegion had revealed its plans to acquire Trelock GmbH in May this year. Trelock makes branded bicycle locks, lights and electronic control units. Trelock will be a part of Allegion’s Europe, Middle East, India and Africa (EMEIA) region. The acquisition will broaden Allegion’s product portfolio and will complement its Kryptonite and AXA brands in the U.S. and European bicycle markets. It will also expand Allegion’s geographic footprint along with enhancing its position in strategic market segments.
Acquisitions are an important aspect of Allegion’s growth strategy. The company is trying to improve its long-term results by focusing on strategic acquisitions and regular innovations. Notably, Allegion completed the acquisition of South Korea-based producer of innovative electronic door locks – Milre Systek Co., Ltd. – last August. The company also purchased Europe-based security providers – AXA Stenman Holding and SimonsVoss Technologies GmbH – in Sep 2015. These acquisitions have strengthened the company’s presence in Europe.
Allegion commands a strong position in the North American security market. The company primarily relies on the commercial and residential construction and remodeling space, which has been picking up momentum of late, especially in the U.S. However, some of the headwinds faced by the company include the slowdown in the Chinese economy and declining demand in the still-recovering European market. Also, a stronger dollar continues to pose headwinds to the company’s top line.
Allegion has a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the protection and safety industry are Brady Corp. (BRC - Free Report) , Ascent Capital Group, Inc. and Alarm.Com Holdings, Inc. (ALRM - Free Report) . While Brady Corp. sports a Zacks Rank #1 (Strong Buy), Ascent Capital Group and Alarm.Com hold a Zacks Rank #2 (Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>