Allegion

Last updated
Allegion plc
Company type Public
ISIN IE00BFRT3W74
Industry Security, Access control
Founded1908;116 years ago (1908)
Headquarters,
Ireland
RevenueIncrease2.svg US$3.27 Billion [1]  (2022)
Increase2.svg US$0.159 Billion [1]  (2022)
Decrease2.svg US$0.458 Billion [1]  (2022)
Total assets Increase2.svg US$3.991 Billion [1]  (2022)
Total equity Increase2.svg US$0.944 Billion [1]  (2022)
Number of employees
12,000 [2]  (2022)
Website allegion.com
Footnotes /references
[3]

Allegion plc is an American Irish-domiciled provider of security products for homes and businesses.

Contents

Though it comprises thirty-one global brands, including CISA, Interflex, LCN, Schlage and Von Duprin, the company operates through two main sections: Allegion International and Allegion Americas. [4] The company employs around 12,000 people, [2] sells its products in more than 130 countries across the world and in 2022 generated revenues of US$3.27 billion. [1]

It is part of the S&P 500 and headquartered in Dublin. [5]

History

Allegion spun off from Ingersoll Rand Plc on 1 December 2013, and became a standalone, publicly traded company. This placed Allegion on the S&P 500, where it replaced JC Penney. [6]

David D. Petratis was announced chairman of the board, chief executive officer and president of the company, in August 2013. [7] As of 2022, John H. Stone became the president and chief executive officer of the company. Petratis remains the chairman of the board until Jan 2, 2023. [8]

Mergers and subsidiaries

Corporate affairs

Management and leadership

The company is managed by President and CEO, John H. Stone. Prior to his appointment as CEO of Allegion, Stone held the position of President within Deere & Company’s Worldwide Construction, Forestry and Power Systems business. [10]

Stone is responsible for the strategic direction of the company alongside an Executive Team comprising 10 members.

Locations

Allegion is headquartered in Dublin, Ireland. Its regional offices for the Americas are in Carmel, Indiana, United States. Its European regional offices are in Faenza, Italy, and the company's Asian headquarters are in Tower B of City Center of Shanghai in Shanghai, China. [11]

Production facilities are located in Colombia, Mexico, Europe, the Middle East, Australasia, the U.S. and New Zealand. [12]

Ownership

As of 2017, Allegion shares are mainly held by institutional investors (T. Rowe Price, Vanguard Group, JPMorgan Chase and others). [13]

Brands and subsidiaries

Allegion Ventures

In March 2018, the company launched the venture capital fund, Allegion Ventures. The aim is to invest in early stage companies in the sectors security and smart access. The initial funding was $50 million. [14] The following companies are part of the Allegion Ventures Programme: [15]

Products and services

Allegion manufactures and supplies electronic (including biometric) and mechanical security products to a range of end-users worldwide, including government, healthcare, hospitality, education, commercial, institutional, single and multi-family residential markets. [4] [5]

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References

  1. 1 2 3 4 5 6 "Allegion Reports Fourth-Quarter, Full-Year 2022 Financial Results, Introduces 2023 Outlook". businesswire.com. 2023-02-22. Retrieved 2023-02-28.
  2. 1 2 "Allegion". www.allegion.com. Retrieved 2023-02-28.
  3. "Allegion Plc 2020 Annual Report". Allegion. 31 December 2020. Retrieved 27 August 2021.
  4. 1 2 "Allegion PLC, ALLE:NYQ summary - FT.com". markets.ft.com. Retrieved 2022-12-15.
  5. 1 2 3 "Allegion PLC, ALLE:NYQ profile - FT.com". markets.ft.com. Retrieved 2022-12-15.
  6. Taborek, Nick (22 November 2013). "J.C. Penney Will Be Replaced by Allegion in S&P 500 After Drop". bloomberg.com. Archived from the original on 1 December 2013. Retrieved 19 February 2014.
  7. "David D. Petratis: Executive Profile & Biography". Bloomberg. Bloomberg Inc. Retrieved 11 November 2018.
  8. "Allegion Announces CEO Succession". @AllegionCorp. Retrieved 2022-08-30.
  9. "Allegion acquires Schlage Lock de Colombia". Allegion.com. Archived from the original on 2014-04-29. Retrieved 2014-04-28.
  10. "John H. Stone - President & CEO at Allegion". THE ORG. Retrieved 2022-12-15.
  11. "Allegion.com: Contact Us". Allegion.com.
  12. Orr, Susan. "Allegion announces $30M in cost-cutting actions at non-U.S. locations". Indianapolis Business Journal. Retrieved 2022-12-15.
  13. Allegion plc Ownership Summary
  14. "Allegion Launches $50 Million Corporate Venture Fund". Archived from the original on 2018-10-19. Retrieved 2018-10-18.
  15. "Our investments".
  16. "Mapped raises $6.5M to build API for the 'digital twin of data infrastructure'". VentureBeat. 2021-06-29. Retrieved 2022-02-24.