Allegion

This Research Note examines M&A and investment activity at dormakaba over the last 14 months, highlighting their commitment to execute their growth strategy at a bolder pace. We comment on this acceleration of external investments based on 6 bolt-on acquisitions and 3 strategic investments since February 2025, review their North American growth plan, and provide […]

This Research Note examines Allegion plc, the global security products and solutions provider, based on its 2025 financial results, 10-K report, acquisitions and corporate venture funding throughout the year. Allegion Profile Allegion, a US public company headquartered in Ireland, is the standalone business formed in 2013 from the former commercial and residential security businesses of […]

This Research Note examines one of the top three companies in the global access solutions market, dormakaba. Based on their FY2024/2025 financial results, year ending 30 June 2025, and investor presentation, we summarize their financial highlights and explore their North American growth strategy and business model change for access control products. Previously, we covered their […]

This Research Note examines Allegion’s relationships with smart building startups over the last 6 years. We highlight recent startup acquisitions, venture capital investments, and strategic alliances which complement their predominantly mechanical security products and systems business. This article updates our previous Research Notes in March 2025 on Allegion’s strategic direction and our coverage of the […]

In this Research Note, we look at what’s behind Allegion’s acquisition of Elatec GmbH, a German manufacturer of security and access technology, specializing in RFID credentials and reader solutions. We highlight the transaction details and strategic rationale before examining their financial development since 2020, recent acquisitions, and private equity ownership. Elatec Profile Founded in Puchheim […]

In this Research Note, we examine Allegion’s progress in the digital transformation of its access control business in 2024, before assessing its strategic direction in recent years. Our research is based on Allegion’s 2024 full-year results, 18th February 2025, and acquisitions, strategic partnerships, and investment activity since 2020. We previously mapped their strategic direction in […]

In this Research Note, we examine Allegion plc, a pure-play provider of security and access solutions. Our analysis is based on their 2023 annual results, presentation, earnings call and 10K Report. We highlight growth in electronic security products, software and corporate venture capital investments in 2023. Note that we reviewed Allegion’s May 2023 Investor Day […]