Allegion Plc, the parent of Kryptonite among other global security labels has agreed the purchase of Trelock GmbH and related companies.
Expected to go through in the second or third quarter, the deal is subject to regulatory approvals.
Trelock is a portable safety and security provider headquartered in Münster, Germany, producing branded bicycle locks, lights and electronic control units. With roots dating back to 1854, Trelock is a leader in the German bicycle market with a strong footprint throughout Europe as well as a presence in Asia. For the fiscal year ending June 30, 2015, Trelock generated nearly €20 million in net revenue.
“Trelock has a solid reputation for safety, quality, design and innovation, complementing our own Kryptonite and AXA brands in the U.S. and European bicycle markets,” said Lucia Veiga Moretti, Allegion senior vice president and president of EMEIA. “With Trelock added to our portfolio, Allegion will become a world leader in portable security solutions with a comprehensive product offering and broad distribution capabilities that fully support our customers’ needs.”
Once completed, Trelock will operate as part of Allegion’s EMEIA region, with managing director Andreas Rott retained in a consultancy capacity, supporting the portable security team.
“Both Trelock and Allegion have employees that have a passion for excellence – driving us to provide the best products and customer experiences possible,” said Rott. “Working together in the portable security space and leveraging combined global demand creation activities will create tremendous opportunities for continued growth.”