Greater Manchester door lock and handle business UAP Group has been acquired by New York-listed global security group Allegion.
Bury-based UAP specialises in fire and security door hardware. It holds almost 200 patents, trademarks, and registered designs, including for the Armasmart range that it calls “the industry’s first door hardware range to eliminate 99.98% of viruses, including COVID-19”.
Dublin-based Allegion plc, which is listed on the New York Stock Exchange, has acquired UAP through one of its subsidiaries for an undisclosed sum. UAP will report into the Allegion International segment, while UAP’s CEO David Jennings will join Allegion “to facilitate a smooth transition and support accelerated growth”.
Mr Jennings said: “Bringing together UAP and Allegion adds great value for our joint distribution and customer base. We’re broadening our high-quality portfolios and creating meaningful opportunities to innovate together.”
Allegion reported $3.8bn in annual revenue in 2024 and employs some 12,000 people. It has more than 30 brands, including Briton, that are sold in 120 countries.
Tim Eckersley, Allegion senior vice president and president of Allegion International, said: “This is a natural extension of Allegion’s core mechanical portfolio with highly specifiable products that will leverage our existing solutions offerings and capabilities. Through our go-to-market alignment, complementary channels and sales expertise, we’ll fuel additional growth for both UAP and Allegion.”
The deal means an exit for private equity group Maven, which said this deal "has delivered a strong return for both Maven Investor Partners and Maven’s institutional buyout fund".
Tom Purkis, partner at Maven, said: “We are proud to have supported UAP’s journey in establishing itself as a leading independent player in the Ƶ market. The buy-and-build strategy delivered the successful integration of five complementary businesses that have broadened the product and service range, enhanced innovation and expanded into new markets.
"This transaction delivers an excellent return for our investors and provides UAP with a strong platform to accelerate its next phase of growth with Allegion. We would like to thank David Jennings and the full UAP team for all their hard work and achievements”
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