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Allegion to Acquire Netherlands Security Provider AXA Stenman

  • Strengthens Allegion's portfolio in both residential and portable security solutions.
  • Expands channel and end-user relationships for more EMEIA growth opportunities.
  • Expected to be accretive to earnings per share and EBITDA margins by 2016.

DUBLIN--(BUSINESS WIRE)-- Allegion, plc (NYSE: ALLE), a leading global security products and solutions provider, has agreed, through one of its subsidiaries, to acquire AXA Stenman Holding. The transaction is expected to close in the third quarter of this year, subject to regulatory approvals.

Founded in 1902, AXA is a leading European-based residential and portable security provider headquartered in Veenendaal, the Netherlands, with production facilities in the Netherlands, France and Poland. AXA manufactures and sells a branded portfolio of bicycle locks and lights as well as a wide variety of window and door hardware. The products are sold throughout Europe to OEMs, retail distributors and property builders. AXA has approximately 320 employees, generated sales of approximately €60 million in 2014 and is expected to generate double-digit revenue growth in 2015.

Allegion Chairman, President and CEO David D. Petratis said AXA's products are highly regarded for their quality and security ratings. He also noted that AXA has an entrepreneurial culture with a robust management team that's built extensive customer and channel relationships Allegion can further leverage.

"AXA is a strong brand that has a reputation for premium quality security solutions, making this company a great fit for our...