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Allegion Acquires Novas, Adding Another Premium Brand to High-Quality Australian Door Hardware Portfolio

1. Allegion acquires Nova Hardware, enhancing its Australian market position. 2. Novas specializes in security products, aligning with Allegion's core services. 3. The acquisition aims to accelerate growth and improve customer experiences. 4. Todd Foster of Novas joins Allegion to support business integration. 5. Transaction details were not disclosed; kitchen and bathroom segments remain separate.

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FAQ

Why Bullish?

The acquisition strengthens Allegion's market presence in Australia, potentially boosting revenue. Historical acquisitions in similar markets have led to significant growth for corporations.

How important is it?

The acquisition is significant as it demonstrates growth strategy and market expansion potential for ALLE.

Why Long Term?

Long-term growth is expected as Allegion integrates Novas and leverages synergies. Past acquisitions show benefits can take time to materialize fully.

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- DUBLIN--(BUSINESS WIRE)--Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has acquired Nova Hardware Pty Ltd (Novas), an architectural door hardware business based in Victoria, Australia. Founded in 1996, Novas is a trusted brand among developers, architects and builders. Known for its high-quality security portfolio, Novas designs and sells mechanical and electronic locks, door closers and seals, hinges, pulls and levers as well as master keying solutions, primarily in Australian multifamily and commercial markets. Novas is strategically aligned to Allegion’s presence in the region, and this acquisition offers both companies expanded opportunities for growth. Novas will report into the Allegion International segment, led by Allegion Senior Vice President Tim Eckersley. “This acquisition underscores Allegion’s commitment to investing in our core and delivering added value for our channel partners, customers and shareholders, alike,” Eckersley said. “Together, Novas and Allegion will continue building a legacy of strong Australian brands that create exceptional end user experiences while making the world safer and more accessible.” Todd Foster, owner of Novas, will join Allegion in an advisory capacity to facilitate a smooth transition and support accelerated growth for the combined organizations. “This is an exciting new chapter for the Novas door hardware business,” Foster said. “Allegion shares our values of innovation, customer focus and operational excellence. With Allegion’s resources and global reach, we have an incredible opportunity to scale our business and provide even more meaningful differentiation in our markets.” Terms of the transaction were not disclosed. This transaction excludes the kitchen and bathroom businesses of Novas, which will be retained by the owner and formed as a separate entity. About Allegion At Allegion (NYSE: ALLE), we design and manufacture innovative security and access solutions that help keep people safe where they live, learn, work and connect. We’re pioneering safety with our strong legacy of leading brands like CISA®, Interflex®, LCN®, Schlage®, SimonsVoss® and Von Duprin®. Our comprehensive portfolio of hardware, software and electronic solutions is sold around the world and spans residential and commercial locks, door closer and exit devices, steel doors and frames, access control and workforce productivity systems. Allegion had $3.8 billion in revenue in 2024. For more, visit www.allegion.com. More News From Allegion plc

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