Allegion plc, a leading global security products and solutions provider, through one of its subsidiaries, has completed the acquisition of Elatec, including Elatec GmbH and other group entities, from Summit Partners for €330 million on a cash-free, debt-free basis.
Elatec is a leading manufacturer of security and access technology, specialising in RFID credentials and readers solutions designed in Germany and sold globally.
As a result of this acquisition, Allegion will expand its global electronics portfolio in attractive end markets while also increasing strategic relationships with channel partners. Elatec will leverage Allegion’s strong demand creation engine and global network.
Elatec will report into the Allegion International segment, led by Allegion Senior Vice President Tim Eckersley. Gerhard Burits, CEO of Elatec, will join Allegion with the Elatec business to support a smooth transition and accelerate growth.
“This will be a powerful combination of expertise, with Elatec’s leadership in line-powered readers complementing Allegion’s proficiency in battery-operated solutions. Together, we will offer a comprehensive range of products that provide meaningful market differentiation and solidify our joint position as a partner of choice,” said Burits. This acquisition was originally announced in June 2025 and was at that time expected to close in the third quarter of this year.
