Allegion Boosts Product Portfolio With the Acquisition of Trimco

Group 1: Acquisition Details - Allegion plc has acquired Trimco Hardware, including its brands and assets, through a subsidiary, with financial terms undisclosed [1] - Trimco, based in Los Angeles, specializes in high-performance and custom-designed door hardware for commercial and institutional markets [1] Group 2: Strategic Rationale - The acquisition aligns with Allegion's strategy to expand market share and customer base, enhancing its door and frame portfolio with Trimco's specialty solutions and innovation capabilities [2] - Trimco will be integrated into Allegion's Americas segment, led by senior vice president Dave Ilardi [3] Group 3: Growth Strategy - Acquisitions are a key component of Allegion's growth strategy, focusing on strategic buys and innovation to improve long-term results [4] - Allegion also acquired Krieger Specialty Products and Unicel Architectural Corp in June 2024, further strengthening its door and frame portfolio and non-residential business [5] Group 4: Market Position and Performance - Allegion holds a Zacks Rank 2 (Buy) and is positioned to benefit from stable demand in the Allegion Americas unit across sectors like education, hospitality, and retail [6] - Year-to-date, Allegion's stock has increased by 1.1%, contrasting with a 1.4% decline in the industry [6]