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January 8, 2014
08:05 EDTALLEAllegion acquires Schlage Lock de Colombia
Allegion announced the acquisition of certain assets of Schlage Lock de Colombia S.A., the second largest mechanical lock manufacturer in that country with revenues of approximately $12M. The acquisition of certain assets of the privately-owned company, which has distribution in other South and Central American countries, will enable Allegion to leverage its branded residential and commercial product lines to grow its presence in the Spanish-speaking South American security market. Allegion will operate a 45,000-square-foot integrated plant in Bogota, Colombia and will continue to sell product under the Schlage brand, as well as Schlage Lock de Colombia’s Inafer and Segurex brands. Schlage Lock de Colombia owner, Alejandro Urdaneta Santos, will remain with the business as general manager, Allegion Colombia. The company has approximately 350 employees.
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