Allegion Acquires Advanced Fire-Rated Glass Products Manufacturer TGP

DUBLIN–(BUSINESS WIRE)–Allegion,
plc (NYSE: ALLE), a leading global security products and solutions
provider, has acquired Technical Glass Products (TGP) through one of its
subsidiaries.

Established in 1980, TGP is a leading 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 – a natural extension
of Allegion’s core product lines. TGP’s product brands include the
FireLite® family of fire-rated ceramic glass, Pilkington Pyrostop®
fire-rated wall panels, Fireframes® family of fire-rated frames and
others.

“Bringing TGP – with a leading market position, as well as a solid
record of innovation and integrity – into the Allegion family is
exciting,” said David D. Petratis, chairman, president and CEO of
Allegion. “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.”

TGP is expected to operate within the Americas region. Current TGP
President Jeff Razwick will continue to lead the business.

“I look forward to helping ensure a smooth integration as TGP joins
Allegion,” said Razwick. “We’re happy to be part of a company that has a
track record of operational excellence and is known for its demand
generation capabilities. Our customers and distributors will benefit
from access to the full range of Allegion specialty products, hollow
metal doors and frames, in addition to our premium product offering.”

TGP generated approximately $80 million in net sales for the trailing 12
months ended Sept. 30, 2017. The transaction is expected to be accretive
to earnings in 2018. Terms of the transaction were not disclosed.

This press release contains "forward-looking statements" within the
meaning of the Private Securities Litigation Reform Act of 1995,
including, but not limited to, statements that relate to the
acquisition’s impact on the Company’s financial and operational
performance, the acquisition’s ability to drive growth and the
integration of the acquisition. These forward-looking statements are
based on the Company's current available information and its current
assumptions, expectations and projections about future events. They are
subject to future events, risks and uncertainties – many of which are
beyond the Company’s control – as well as potentially inaccurate
assumptions, which could cause actual results to differ materially from
those in the forward-looking statements. Further information on these
factors and other risks that may affect the Company's business is
included in filings it makes with the Securities and Exchange Commission
from time to time, including its Form 10-K for the year ended Dec. 31,
2016, Form 10-Qs for the quarters ended March 31, 2017, June 30, 2017,
and Sept. 30, 2017, and in its other SEC filings. The Company assumes no
obligations to update these forward-looking statements.

About Allegion™

Allegion (NYSE: ALLE) is a global pioneer in safety and security, with
leading brands like CISA®, Interflex®, LCN®,
Schlage®, SimonsVoss® and Von Duprin®. Focusing
on security around the door and adjacent areas, Allegion produces a
range of solutions for homes, businesses, schools and other
institutions. Allegion is a $2.2 billion company, with products sold in
almost 130 countries.

For more, visit www.allegion.com.

Contacts

Media
Maria Pia Tamburri, 317-810-3399
Director, Public
Affairs
[email protected]
or
Analysts
Mike
Wagnes, 317-810-3494
Vice President, Treasurer and Investor
Relations
[email protected]