Allegion plans to acquire Australian company that makes door hardware

Security-products company Allegion Plc announced Thursday it plans to acquire Lemaar Australia Pty Ltd, a privately held door hardware company based in Victoria, Australia.

Allegion, which did not reveal the purchase price or other terms of the proposed acquisition, said the deal is expected to close yet this quarter.

Allegion is headquartered in Ireland, but its Americas division is based in Carmel. The company makes mechanical and electrical locks, electronic safety products and other products under brand names including Schlage, Steelcraft and Von Duprin, among others.

Lemaar, founded in 1999, makes door entry systems, handles and digital locks for residential and multifamily buildings.

In a news release, Allegion said Lemaar’s products closely align to its own and that its “channels and go-to-market approach also complement Allegion,” which will give the companies a chance to scale more easily.

After the transaction closes, Lemaar will become part of the Allegion International segment.

“Lemaar will enhance Allegion’s existing business in Australia and our ability to deliver comprehensive security and accessibility solutions for our customers,” said Allegion Senior Vice President Tim Eckersley, who is based in Carmel and heads the international division.

Eckersley said in a news release that Lemaar “is known for quality, aligning with Allegion’s strong reputation in the industry and with our partners.”

Lemaar’s owner, Bill Spyrou, will serve as an adviser to the combined company. Spyrou said in a statement that “together, we can create new value for builders, retailers and DIYers alike, across style and design but also security, access and specialist disability accommodations.”

Allegion has made several acquisitions over the past year. The Lemaar purchase should close about a year after Allegion Plc acquired Montajes Electronicos Dorcas S.L., a privately held company based in Siete Aguas, Spain.

Dorcas, which operates as part of the Allegion international segment, makes electro-mechanical access-control products, including a variety of types of door locks and access panels.

On Feb. 1, 2024, Allegion announced its acquisition of Livingston, Scotland-based Boss Door Controls.

Allegion is scheduled to release its 2024 earnings Tuesday.

The company reported 2023 revenue of $3.7 billion. At that time, the company had 12,400 employees, 48% of whom work in the United States. The company has about 1,600 employees in Indiana.