Allegion to acquire Lemaar Australia, terms undisclosed

Allegion (ALLE) has signed a definitive agreement to acquire Lemaar Australia, a privately held door hardware company based in Victoria, Australia. This acquisition is expected to close in the first quarter of 2025, subject to customary closing conditions. After the transaction closes, Lemaar will report into the Allegion International segment. Bill Spyrou, owner of Lemaar, will serve in an advisory capacity, supporting a transition for the business as it joins Allegion. Terms of the transaction were not disclosed.