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Allegion to acquire access control manufacturer ELATEC in $382 million deal

June 12, 2025SSN Staff

DUBLIN—Allegion, a global security products and solutions provider, through one of its subsidiaries, has signed a definitive agreement to acquire ELATEC, including Elatec GmbH and other group entities, from Summit Partners for €330 million ($382 million) on a cash-free, debt-free basis. Allegion expects to fund the acquisition through a combination of cash on hand and borrowings under its existing revolving credit facility. ELATEC is a manufacturer of security and access technology,...

Allegion, ELATEC, Gerhard Burits, John H. Stone, Summit Partners, Tim Eckersley