Allegion to acquire Elatec from Summit Partners for EUR 330M

Allegion (ALLE) has signed a definitive agreement to acquire Elatec, including Elatec and other group entities, from Summit Partners for EUR 330M on a cash-free, debt-free basis. Allegion expects to fund the acquisition through a combination of cash on hand and borrowings under its existing revolving credit facility. This acquisition is expected to close in the third quarter of 2025, subject to customary closing conditions.