Allegion plc the physical security products manufacturer, is acquiring 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.
Based in the United Arab Emirates, QMI is a Middle East manufacturer of commercial steel and wood doors and frames. The firms say this product offering is closely aligned with Allegion’s core business and specification, 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.
Lucia Veiga Moretti, Allegion senior vice president and president of EMEIA said: “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. 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 about $24m in net sales for the 12 months ending September 2017. The business will operate in Allegion’s EMEIA region.
Riad Welly, QMI co-founder said: “Like Allegion, QMI prioritises the customer experience through continuous improvements to operating efficiency and quality, as well as a commitment to Lean processes. 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.
