Tag: SimonsVoss
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,”...
SimonsVoss purchased (for real this time)
May 25, 2010Martha Entwistle
Back in 2008, it looked like SimonsVoss would become part of the Assa Abloy empire, but that deal fell through, and the company today announced that it has been purchased by a private equity firm, HgCapital.
Looks like a pretty good deal for SimonsVoss. They're reporting roughly 37 million Euro in sales, and a purchase price of around 100 million pounds. If I wasn't on the PSA-TEC show floor, I'd do more math for you, but that's about 3x revenue, no?
Nor am I really sure why that Assa deal broke...