Allegion acquires TGP
Allegion has acquired Technical Glass Products (TGP) through one of its subsidiaries. Terms of the transaction were not disclosed.
TGP is a North American manufacturer of advanced fire-rated entrance and wall systems for institutions and non-residential buildings. Its product lines include fire-rated glass and frames for doors, entrances and wall systems.
“TGP’s focus on institutional and non-residential projects provides a strong tie to Allegion’s core business — and, more importantly, TGP will leverage the strength of our existing specification writing capabilities to help accelerate growth. Our complementary solutions will also mutually expand our reach in North American and Middle Eastern markets,” said David D. Petratis, chairman, president and CEO, Allegion.
TGP is expected to operate within the Americas region. Current TGP President Jeff Razwick will continue to lead the business.
TGP generated approximately $80 million in net sales for the trailing 12 months ended September 30, 2017. The transaction is expected to be accretive to earnings in 2018, says Allegion.
February 27-28, 2018