Kirkland Advises Allegion on Acquisition of the Automatic Door Division of Stanley Black & Decker for $900 Million
Kirkland & Ellis advised Allegion plc (NYSE: ALLE) in the acquisition of Stanley Access Technologies, a carveout divestiture from Stanley Black & Decker (NYSE: SWK). Allegion is a global supplier of access and security solutions, with name brands such as Schlage, SimonsVoss and Von Duprin. Stanley Access Technologies, a division of Stanley, is a leading manufacturer, installer and service provider of automatic doors, primarily in the United States and Canada. The acquisition represents a significant expansion of Allegion’s access, egress and access control solutions. The parties anticipate closing the transaction in the third quarter of 2022 and Kirkland will continue to work with Allegion on execution, integration planning and standup.
The Kirkland team was led by corporate partners Michael Considine and Courtney Roane and associates Catharine Hansard and Tess Dennis; debt finance partner Andy Veit; technology & IP transactions partner Matt Lovell; executive compensation partner Stephen Jacobson; labor & employment partners R.D. Kohut and Sydney Jones; employee benefits partner Alexandra Mihalas; capital markets partner Robert Hayward; and environmental transactions partner Jonathan Kidwell.
