Allegion plc (ALLE) Acquires Novas

Allegion plc (NYSE: ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has acquired Nova Hardware Pty Ltd (Novas), an architectural door hardware business based in Victoria, Australia.

Founded in 1996, Novas is a trusted brand among developers, architects and builders. Known for its high-quality security portfolio, Novas designs and sells mechanical and electronic locks, door closers and seals, hinges, pulls and levers as well as master keying solutions, primarily in Australian multifamily and commercial markets. Novas is strategically aligned to Allegion’s presence in the region, and this acquisition offers both companies expanded opportunities for growth.

Novas will report into the Allegion International segment, led by Allegion Senior Vice President Tim Eckersley.

“This acquisition underscores Allegion’s commitment to investing in our core and delivering added value for our channel partners, customers and shareholders, alike,” Eckersley said. “Together, Novas and Allegion will continue building a legacy of strong Australian brands that create exceptional end user experiences while making the world safer and more accessible.”

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.

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