Allegion plc, a leading global security products and solutions provider, has expanded even further its UK footprint with the acquisition of UAP Group Limited (UAP). Based in Bury, England, and founded in 1996, UAP is a well-known provider of residential door hardware with a strong reputation for innovation. The deal, which was completed through one of Allegion’s subsidiaries, will see UAP integrated into the Allegion International segment.
The acquisition is a strategic move for Allegion, as UAP’s portfolio of nearly 200 patents, trademarks, and registered designs is highly aligned with Allegion’s core mechanical offerings. The move will also complement Allegion UK’s existing non-residential portfolio, creating opportunities to expand solutions for their combined customer base.
Tim Eckersley, Allegion’s senior vice president and president of Allegion International, stated that the acquisition is a “natural extension” that will “fuel additional growth for both UAP and Allegion” through shared channels and sales expertise. David Jennings, UAP’s CEO, will join Allegion to ensure a smooth transition and support future growth. He believes the merger will add “great value” to both companies’ customer bases by broadening portfolios and creating opportunities for innovation. The terms of the transaction were not disclosed.
Why this matters: This is second big deal Allegion has completed as it looks to expand into the UK. UAP and joins Brisant in the list of impressive security brands within the company’s stable. It shows the strength of the UK market and the willingness for global operators to invest in British companies. What is also important is the demonstration that firms in the UK fenestration sector remain attractive targets for purchase. When the market is suppressed this is an indicator that investors believe the market will return to some form of normality and dare we say it, growth. Those in know may play bide their time and also target firms that not only are experiencing growth, but are also in distress – watch this space.
