Allegion acquires Nova Hardware, terms undisclosed

Allegion (ALLE) has acquired Nova Hardware. Novas will report into the Allegion International segment. Todd Foster, owner of Novas, will join Allegion in an advisory capacity to facilitate a smooth transition and support accelerated growth for the combined organizations. “This is an exciting new chapter for the Novas door hardware business,” Foster said. “Allegion shares our values of innovation, customer focus and operational excellence. With Allegion’s resources and global reach, we have an incredible opportunity to scale our business and provide even more meaningful differentiation in our markets.” Terms of the transaction were not disclosed. This transaction excludes the kitchen and bathroom businesses of Novas, which will be retained by the owner and formed as a separate entity.