Tag: Michael Lamach
Ingersoll Rand names planned $2 billion spinoff: Allegion
June 17, 2013Martha Entwistle, Tess Nacelewicz
SWORDS, Ireland—Ingersoll Rand, which previously said it planned to spin off its security products business at some point this year, today announced that Allegion will be the name of the new company and that it will have revenues of $2.05 billion. “We're excited about the name,” Misty Zelent, a spokeswoman for Ingersoll Rand, based here, told Security Systems News. “It really represents the collaborative long-term relationships we have with customers and the team of experts...
IR to shed security business
December 12, 2012Martha Entwistle
SWORDS, Ireland—Depending on how the new business is structured, conglomerate Ingersoll Rand's decision to spin off its security products business could benefit integrators, Michael McManus, Imperial Capital managing director, told Security Systems News.“From an operating company point of view, it will be interesting to see what kind of capitalization the parent company will spin off [the new stand-alone security company] with,” McManus said.The new entity's capital structure will...