Allegion pays about 2.4x annual revenue for Stanley Black Decker unit Access Technologies
Allegion Plc said Friday it agreed to buy Access Technologies LLC from Stanley Black Decker Inc. for $810 million. The price values the manufacturer, installer and service provider of automatic doors in North America at about 2.4 times its $340 million annual revenue. Allegion said it''s received committed financing from Goldman Sachs Co. LLC, a unit of Goldman Sachs Group Inc. . Separately, Allegion said it expects to report first-quarter earnings of $1.05 a share and adjusted earnings of $1.07 a share, with revenue of $723 million. Analysts currently expect Allegion to earn 96 cents a share on revenue of $692.2 million. Shares of Allegion are down 15.4% so far in 2022 compared to a drop of 7.8% by the SP 500 . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
Allegion pays about 2.4x annual revenue for Stanley Black Decker unit Access Technologies
Allegion Plc said Friday it agreed to buy Access Technologies LLC from Stanley Black Decker Inc. for $810 million. The price values the manufacturer, installer and service provider of automatic doors in North America at about 2.4 times its $340 million annual revenue. Allegion said it''s received committed financing from Goldman Sachs Co. LLC, a unit of Goldman Sachs Group Inc. . Separately, Allegion said it expects to report first-quarter earnings of $1.05 a share and adjusted earnings of $1.07 a share, with revenue of $723 million. Analysts currently expect Allegion to earn 96 cents a share on revenue of $692.2 million. Shares of Allegion are down 15.4% so far in 2022 compared to a drop of 7.8% by the SP 500 . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.