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Allegion

Topic: Company

 From HandWiki - Reading time: 4 min
Allegion plc
TypePublic
ISINIE00BFRT3W74
IndustrySecurity, Access control
Founded1908
Headquarters
Dublin
,
Ireland
RevenueIncrease US$3.27 Billion[1] (2022)
Increase US$0.159 Billion[1] (2022)
Decrease US$0.458 Billion[1] (2022)
Total assetsIncrease US$3.991 Billion[1] (2022)
Total equityIncrease US$0.944 Billion[1] (2022)
Number of employees
12,000[2] (2022)
Websiteallegion.com
Footnotes / references
[3]

Allegion plc is an American Irish-domiciled provider of security products for homes and businesses.

Though it comprises thirty-one global brands, including CISA, Interflex, LCN, Schlage and Von Duprin, the company operates through two main sections: Allegion International and Allegion Americas.[4] The company employs around 12,000 people,[2] sells its products in more than 130 countries across the world and in 2022 generated revenues of US$3.27 billion.[1]

It is part of the S&P 500 and headquartered in Dublin.[5]

History

Allegion spun off from Ingersoll Rand Plc on 1 December 2013, and became a standalone, publicly traded company. This placed Allegion on the S&P 500, where it replaced JC Penney.[6]

David D. Petratis was announced chairman of the board, chief executive officer and president of the company, in August 2013.[7] As of 2022, John H. Stone became the president and chief executive officer of the company. Petratis remains the chairman of the board until Jan 2, 2023.[8]

Mergers and subsidiaries

  • On 8 January 2014, Allegion acquired certain assets of Schlage Lock de Colombia S.A., the second largest mechanical lock manufacturer in Colombia, with revenues of US$12 million. The acquisition gave Allegion a 45,000 square foot integrated plant in Bogota, Colombia, and approximately 350 new employees.[9]
  • On 22 April 2022, Allegion acquired Stanley Access Technologies LLC[5]

Corporate affairs

Management and leadership

The company is managed by President and CEO, John H. Stone. Prior to his appointment as CEO of Allegion, Stone held the position of President within Deere & Company’s Worldwide Construction, Forestry and Power Systems business.[10]

Stone is responsible for the strategic direction of the company alongside an Executive Team comprising 10 members.

Locations

Allegion is headquartered in Dublin, Ireland. Its regional offices for the Americas are in Carmel, Indiana, United States. Its European regional offices are in Faenza, Italy, and the company's Asian headquarters are in Tower B of City Center of Shanghai in Shanghai, China.[11]

Production facilities are located in Colombia, Mexico, Europe, the Middle East, Australasia, the U.S. and New Zealand.[12]

Ownership

As of 2017, Allegion shares are mainly held by institutional investors (T. Rowe Price, Vanguard Group, JPMorgan Chase and others).[13]

Brands and subsidiaries

  • AD Systems
  • Austral Lock
  • AXA
  • Bricard
  • Brio
  • Briton
  • CISA
  • Dexter by Schlage
  • Falcon
  • FSH
  • Gainsborough
  • Glynn-Johnson
  • Inafer
  • ISONAS
  • Ives
  • Kryptonite
  • Legge
  • LCN
  • Milre
  • Normbau
  • QMI
  • Republic Doors & Frames
  • PegaSys
  • Schlage
  • Simons Voss Technologies
  • Steelcraft
  • Technical Glass Products (TGP)
  • Trelock
  • Von Duprin
  • Yonomi (Cloud technology)
  • Zero International

Allegion Ventures

In March 2018, the company launched the venture capital fund, Allegion Ventures. The aim is to invest in early stage companies in the sectors security and smart access. The initial funding was $50 million.[14] The following companies are part of the Allegion Ventures Programme:[15]

  • Conneqtech (GPS Tracking)
  • iDevices (Smart home devices, exited 2017)
  • Nuki (Smart lock)
  • Mint House
  • Mapped, raised $6.5M Seed II in 2021[16]

Products and services

Allegion manufactures and supplies electronic (including biometric) and mechanical security products to a range of end-users worldwide, including government, healthcare, hospitality, education, commercial, institutional, single and multi-family residential markets.[4][5]

References

  1. ↑ 1.0 1.1 1.2 1.3 1.4 1.5 "Allegion Reports Fourth-Quarter, Full-Year 2022 Financial Results, Introduces 2023 Outlook". 2023-02-22. https://www.businesswire.com/news/home/20230222005253/en/Allegion-Reports-Fourth-Quarter-Full-Year-2022-Financial-Results-Introduces-2023-Outlook. 
  2. ↑ 2.0 2.1 "Allegion". https://www.allegion.com/corp/en/about.html. 
  3. ↑ "Allegion Plc 2020 Annual Report". 31 December 2020. https://otp.tools.investis.com/clients/us/allegion_plc1/SEC/sec-show.aspx?FilingId=14707759&Cik=0001579241&Type=PDF&hasPdf=1. Retrieved 27 August 2021. 
  4. ↑ 4.0 4.1 "Allegion PLC, ALLE:NYQ summary - FT.com". https://markets.ft.com/data/equities/tearsheet/summary?s=ALLE:NYQ. 
  5. ↑ 5.0 5.1 5.2 "Allegion PLC, ALLE:NYQ profile - FT.com". https://markets.ft.com/data/equities/tearsheet/profile?s=ALLE:NYQ. 
  6. ↑ Taborek, Nick (22 November 2013). "J.C. Penney Will Be Replaced by Allegion in S&P 500 After Drop". bloomberg.com. Archived from the original on 1 December 2013. https://web.archive.org/web/20131201010017/http://www.bloomberg.com/news/2013-11-22/j-c-penney-will-be-replaced-by-allegion-in-s-p-500-after-drop.html. Retrieved 19 February 2014. 
  7. ↑ "David D. Petratis: Executive Profile & Biography". Bloomberg Inc.. https://www.bloomberg.com/research/stocks/people/person.asp?personId=10159546&privcapId=241782379. Retrieved 11 November 2018. 
  8. ↑ "Allegion Announces CEO Succession" (in en). https://www.allegion.com/content/allegion-corp/corp/en/news/year/2022/ceo-succession.html. 
  9. ↑ "Allegion acquires Schlage Lock de Colombia". Allegion.com. http://investor.allegion.com/releasedetail.cfm?releaseid=817818. 
  10. ↑ "John H. Stone - President & CEO at Allegion" (in en). https://theorg.com/org/allegion/org-chart/john-h-stone. 
  11. ↑ "Allegion.com: Contact Us". Allegion.com. http://www.allegion.com/corp/en/home/contact-us.html. 
  12. ↑ Orr, Susan. "Allegion announces $30M in cost-cutting actions at non-U.S. locations" (in en-US). https://www.ibj.com/articles/allegion-announces-cost-cutting-actions-at-non-u-s-locations. 
  13. ↑ Allegion plc Ownership Summary
  14. ↑ "Allegion Launches $50 Million Corporate Venture Fund". https://www.allegion.com/corp/en/news/2018/allegion-ventures-launch.html. 
  15. ↑ "Our investments". https://www.allegion.com/corp/en/ventures/ventures-companies.html. 
  16. ↑ "Mapped raises $6.5M to build API for the 'digital twin of data infrastructure'" (in en-US). 2021-06-29. https://venturebeat.com/2021/06/29/mapped-raises-6-5m-to-build-api-for-the-digital-twin-of-data-infrastructure/. 

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