Should You Pledge to Allegion?
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When is one of the best-known access control products manufacturers also one of the least known? When it spins off from being a highly prominent supplier like Ingersoll Rand (IR) Security Technologies to become a brand-new entity such as Allegion (pronounced uh-lee-juhn). While Allegion may be a foreign name to many, especially since it was just officially launched in December as a publicly traded company, the brands within its portfolio are among the industry’s most trusted and pervasive.
Several of those imprints established their respective product categories and have longstanding reputations for innovation and quality, including Schlage (cylindrical locks), Von Duprin (exit devices), LCN (door closers) and CISA (electrically controlled locks). Schlage – widely considered the world’s leading security lock brand – is among the 23 makes now under an Allegion umbrella that also includes aptiQ, Falcon, Kryptonite and XceedID. Product offerings encompass the doorway and beyond, with solutions that target the hospitality, education, health-care, government, commercial office, and single- and multifamily residential markets.
Allegion‘s groundwork was laid more than a year ago when Ingersoll Rand, a $15 billion industrial conglomerate whose products include air compressors, tools, pumps, motors and other machinery, first announced plans to spin off what amounted to an approximately $2 billion business in 2012 as a standalone security concern. Analysts say the move was prompted by the substantial opportunities for growth and expansion both domestically and abroad as the security industry continues to thrive.
“This is an opportunity to carry for-ward the best of Allegion’s heritage, expertise and entrepreneurial roots while becoming bolder at capitalizing on major trends in commercial and residential security,” says Allegion Chairman/President/CEO Dave Petratis. ” … we intend to invest in the electronic side of our business moving forward, all while maintaining our same level of dedication to the continuous improvement and advancement of our mechanical products.”
Working out of locations that include its Dublin, Ireland, headquarters and regional corporate centers in Carmel, Ind., Brussels and Shanghai, the company’s 7,600 employees help provide products to 120 countries. To find out what changes installing security contractors can expect as a result of Allegion’s unveiling, SSI spoke with company President of the Americas Tim Eckersley. The 25-year veteran of high growth industries discusses rebranding challenges, security technologies and markets, and overall opportunities.
What prompted the spinoff of IR into Allegion and how was the name selected?
Tim Ecklersley: The actual spinout was prompted by the Ingersoll Rand Board and executive leadership. They were evaluating the strategic assets of the company and believed isolating and spinning out into its own separate company, the security pieces of the IR business would provide us with a more focused activity toward the security marketplace, as well as ability to invest more significantly in our business on a going-forward basis.
Regarding the Allegion name, we spent a lot of time on this and had a lot of external help and support. It is based on three considerations. First of all is the legacy of our brands and our business on a long-term basis. Then there’s the employees and experts we have in the business that all bring about the skills and capability necessary to compete and lead the industries we’re in. The third piece is the solution expertise we bring to the business.
Allegion is a bit of a make-up of the concept of all, meaning we are all together with both our legacy and the future opportunities of our business that bring creative solutions to problems in the security industry. That’s how Allegion came about.
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