Ingersoll Rand, the Ireland based industrial company, has divested itself of its security businesses which includes 23 brands, launching a new company called Allegion.
With turnover of around $2 billion annually, the Allegion businesses will continue to be a major player in the world security market with global brands such as Cisa, Schlage, Interflex, Falcon, LCN, and Von Duprin.
Allegion describes itself as “specialising in security around the doorway and beyond”, with residential and commercial locks, door closers and panic release bars as well as access control and workforce productivity systems.
“For more than a century, we have been pioneers in developing products that help keep people safe where they live, work and visit,” said Dave Petratis, Allegion chairman, president and CEO. “This is an opportunity to carry forward the best of Allegion’s heritage, expertise and entrepreneurial roots while becoming bolder at capitalizing on major trends in commercial and residential security. As a global enterprise, we will continue to lead the industry in defining and raising the standards for safety and security everywhere.”
With more than 7,600 global employees across sales, production and distribution facilities worldwide, Allegion plans to add 300 jobs in various locations. The company intends to selectively pursue strategic acquisitions that complement and enhance its existing business, while investing in research and development and product development. Allegion also plans to build on its operational excellence program, pursue growth in emerging markets and recruit new talent and expertise.
“The future of our company and the entire security industry lies in addressing the needs of an increasingly connected world. That’s why we intend to invest in the electronic side of our business moving forward, all while maintaining our same level of dedication to the continuous improvement and advancement of our mechanical products,” Petratis added.
Allegion says it will compete in the $25 billion global security products and solutions industry by addressing global trends in the security industry, which include heightened awareness of security requirements, increased global urbanization, the shift toward electronic, intelligent security solutions, and anticipated global rebound of commercial and residential construction markets.
Allegion’s executive team includes:
- Tim Eckersley, senior vice president and president of the Americas region
- Ray Lewis, senior vice president, human resources and communications
- Barbara Santoro, senior vice president, general counsel and secretary
- Patrick Shannon, senior vice president and chief financial officer
- William Yu, senior vice president and president of the Asia Pacific region
- Todd Graves, vice president, engineering and technology
- Tracy Kemp, vice president and chief information officer
- Chris Muhlenkamp, vice president, global operations and integrated supply chain
- John Stanley, vice president of finance for Europe, Middle East, India and Africa (EMEIA) region, and acting EMEIA regional leader