Tag: David D. Petratis
Allegion releases second-quarter financial results
August 2, 2022SSN Staff
DUBLIN – Allegion recently released its second-quarter financial results, with a healthy stable outlook for the rest of the year.
The global provider of security products and solutions posted Q2 2022 net revenues of $773.1 million and net earnings of $115.1 million, or $1.30 per share. Excluding charges related to restructuring, acquisition and integration expenses, debt financing, as well as non-operating investment gains, adjusted net earnings were $121.1 million, or $1.37 per share, up...
Allegion completes acquisition of Stanley Access Technologies
July 6, 2022SSN Staff
DUBLIN—Allegion plc, a global security products and solutions provider, has completed the previously announced acquisition of Stanley Access Technologies LLC 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 centers on non-residential...
Allegion announces CEO succession
May 31, 2022SSN Staff
DUBLIN—Allegion plc, a leading global provider of security products and solutions, today announced that John H. Stone will succeed David D. Petratis as president and CEO, effective July 11, 2022.
Stone will also become a member of the company’s Board of Directors at that time, and Petratis will serve as executive chairman until his retirement, which is expected by Jan. 2, 2023.
Petratis has led Allegion since its spin-off from the former Ingersoll Rand in 2013, capping off a distinguished...
Allegion acquires lock company SimonsVoss
July 2, 2015SSN Staff
DUBLIN—Allegion is acquiring SimonsVoss Technologies from HgCapital. The transaction, valued at €210 million ($234 million), is expected to close later this year.
SimonsVoss is an electronic lock company, headquartered in Munich with a global presence. SimonsVoss generated sales of approximately €52 million in 2014 and has approximately 275 employees, Allegion said in a release.
“SimonsVoss is highly complementary to Allegion's portfolio and provides sound synergy opportunities,”...