Apr 27 2015
Allegion, plc, a leading global security products and solutions provider, has signed a definitive agreement to acquire the assets of Brio Industries, a division of RMD Industries Pty Ltd. Brio is a market-leading designer and manufacturer of sliding and folding door hardware for commercial and residential spaces in Australia, New Zealand, the United Kingdom and the United States. The transaction is expected to close in the second quarter.
Allegion Senior Vice President and President of Asia Pacific William Yu said the acquisition of Brio will allow Allegion to enter the sliding and folding door hardware market with an already strong brand reputation and high-quality products, while also providing expansion opportunities around the world.
“The sliding and folding door hardware market has obvious synergies with the ‘around-the-doorway’ security markets Allegion leads, so we already have the technical capabilities needed to support this new product offering for our customers,” Yu said. “With our strong global specification writing teams and sales coverage, we’ll be able to leverage Brio’s position in Australia and New Zealand as well as its increasing footprints in the United States and Europe to drive growth for Allegion and our family of brands.”
Brio’s suite of products includes door hardware systems and accessories for interior sliding and folding doors; WeatherfoldTM exterior folding doors; straight-sliding, top-hung doors; straight-sliding, bottom-roller doors; and retractable insect screens.
Brio General Manager Styli Pelekanos said the acquisition was a strategic one for both entities.
“To be part of Allegion is exciting – almost overnight we are expanding our global footprint,” said Pelekanos. “Brio has spent many years developing a wide range of unique products that have benefited and solved problems for our customers.”
Source: http://www.allegion.com/