Security News

Allegion signs an agreement to acquire Stanley Access Technologies and their automatic entrance solutions business

Allegion plc, a global security products, and solutions provider has signed a definitive agreement to acquire Stanley Access Technologies LLC (‘Access Technologies’) and assets related to the automatic entrance solutions business from Stanley Black & Decker, Inc. for $900 million in cash.
When adjusted for approximately $90 million in tax benefits, the purchase price is $810 million on a cash-free, debt-free basis. Reducing the amount paid by the tax benefits, the purchase price represents approximately 14.5x 2022E EBITDA, or approximately 12.5x including run-rate synergies.
Automatic entrance solutions
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 settings, including retail, healthcare, education, commercial offices, hospitality, and government. Access Technologies generated approximately $340 m…