The physical security product manufacturer Allegion plc, has completed, through one of its subsidiaries, the previously announced acquisition of QMI. Based in the United Arab Emirates, QMI is one of the Middle Eastโs largest manufacturers of commercial steel and wood doors and frames. Allegion says this product offering is closely aligned with Allegionโs core business and specification capabilities, and it provides customers with door solutions in the Middle East, including options for pre-installed door sets that are code compliant across markets.
Lucia Veiga Moretti, Allegion senior vice president and president of EMEIA, said: โIn 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, weโre 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 Allegionโs growth in this fast growing region and EMEIA as a whole.โ
QMI generated about $24m in net sales for the trailing 12 months to September 2017. The business will operate in Allegionโs EMEIA region. Riad Welly, QMI co-founder said: “Like Allegion, QMI prioritizes the customer experience through continuous improvements to operating efficiency and quality, as well as a commitment to Lean processes. Weโre excited to have QMI products offered as a key part of Allegionโs full-door solution for end users, specifiers and customers in the Middle East.โ
Terms of the transaction were not disclosed. Allegion announced its intent to purchase QMI in November 2017.
