Allegion plc (ALLE) is set to acquire ELATEC, including Elatec GmbH and related entities, from Summit Partners for €330 million.
ELATEC is projected to generate around €60-€65 million in net sales by 2026.
The acquisition is expected to positively impact Allegion’s adjusted earnings per share in 2026.
CEO John H. Stone described ELATEC as a leader that complements Allegion’s reader and credential product lines, promising growth aligned with Allegion’s electronics financial profile.
The deal is expected to close in the third quarter of 2025.