Alvarado is a manufacturer of physical access solutions such as speed gates, turnstiles and other admission devices with a focus on office, commercial and government buildings, as well as sports, leisure and entertainment facilities.
Combined with its own physical access solutions business, Dormakaba says it will achieve one of the leading positions in the access control market in North America. The firm goes on to explain, in a prepared statement, that the acquisition offers a good strategic fit to Dormakaba with a widely complementary customer base.
Alvarado was founded in 1956 and has around 90 employees. In its last financial year (FY 2018/19 ended March 2019), it generated about US$33 million in sales.
The parties have agreed not to disclose the terms of the transaction, which is expected to close in the third quarter of 2019