Allegion, plc (NYSE: ALLE), a leading global security products and solutions provider, has agreed to acquire Qatar Metal Industries (QMI) through one of its subsidiaries. The transaction is expected to close in the first quarter of 2018, subject to regulatory approvals.
Headquartered in the United Arab Emirates, QMI is one of the Middle East’s largest manufacturers of commercial steel and wood doors and frames. This product offering is closely aligned with Allegion’s core business and specification capabilities, and it provides customers with full-door solutions in the Middle East, including options for pre-installed door sets that are code compliant across multiple markets.
“In EMEIA, we continue to expand through a focus on creating the best possible customer experience with a full suite of security solutions and services,” said Lucia Veiga Moretti, Allegion senior vice president and president of EMEIA. “With QMI, we’re further expanding our code-compliant products to include doors in the Middle Eastern market, while leveraging the strength of our existing specification writing capabilities and adding strong relationships across new build and aftermarket environments. All of this supports our strategy to accelerate Allegion’s growth in this fast growing region and EMEIA as a whole.”
QMI generated approximately $24 million in net sales for the trailing 12 months ended Sept. 30, 2017. The business will operate in Allegion’s EMEIA region.
“Like Allegion, QMI prioritizes the customer experience through continuous improvements to operating efficiency and quality, as well as a commitment to Lean processes,” said Riad Welly, QMI co-founder. “We’re excited to have QMI products offered as a key part of Allegion’s full-door solution for end users, specifiers and customers in the Middle East.”
Terms of the transaction were not disclosed.
