Physical Security

In this Research Note, we examine one of the top three companies in the global access solutions market, dormakaba Group, based on their FY2022/2023 financial results, year ending 30 June 2023 and their latest Annual Report. This analysis which also covers the firm’s Shape4Growth strategy and its digital product portfolio, updates our previous article on […]

Security and sustainability are two aspects of modern buildings that don’t often overlap. Security evades sustainability by being more important in many respects, protecting people and assets today, while sustainability protects them for the future. However, as the number of video surveillance products in action proliferate rapidly, the environmental cost of such security has become […]

This Research Note examines the fire and security business of Halma plc and the financial results and acquisition strategy of their Safety Sector, year ending 31 March, announced on 15th June 2023. This analysis is based on financial releases, investor presentations and their Annual Report. Halma is a group of around 50 life-saving technology companies. […]

Geopolitical tensions between the United States and China have continued to escalate in recent years, resulting in a series of tit-for-tat legislative actions aimed at restricting access to each other’s markets. These actions have especially impacted the video surveillance market, with the US government banning products from major Chinese manufacturers and Chinese firms developing alternatives […]

In this Research Note, we examine the access control and visitor management business of Acre Security, a Dallas, USA-based buy-and-build company backed by private equity capital. Founded in 2012 to acquire, partner or invest in specialized players in the physical security industry, acre offers a single platform of on-premises, cloud, and hybrid security solutions. This […]

This Research Note examines the technology strategy of Assa Abloy, the global vendor in the access solutions space. We have mapped M&A activity in physical security, access control and identification solutions by categorizing the various acquisitions by technology over the last 2 years (January 2022 to date). The strategy presentation slide (shown below) at the […]

In this Research Note, we examine Allegion plc, a leading pure-play provider of security and access control solutions. Our analysis is based on their 2022 annual results, 2023 Investor & Analyst Day presentations, corporate venture capital investments and recent activities. Allegion, a US public company, headquartered in Ireland is the standalone business formed in 2013 […]