Allegion Closes on Acquisition
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As a subscriber you can listen to articles at work, in the car, or while you work out. Subscribe NowAllegion PLC (NYSE: ALLE), which has its North American headquarters in Carmel, has completed the acquisition of Zero International Inc. in New York. Allegion Senior Vice President Tim Eckersley says the deal for the sealing system producer allows the company to “compete more effectively” in the new construction and aftermarket space.
February 26, 2015
News Release
Dublin, Ireland — 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.”
Source: Allegion PLC