Allegion Takes Over Trelock and Turns Into Biggest in Locks in EU
DUBLIN, Ireland – Allegion PLC, owner of among others Kryptonite and AXA Stenman Holding and a leading global security products provider, is taking over Trelock GmbH and related companies. The transaction is expected to close in the second or third quarter of this year.
With the Trelock take-over Allegion turns into the biggest supplier of bicycles (ring)locks in Europe and possibly also for bicycle lights. Allegion is a 2 billion company selling security products in almost 130 countries including Kryptonite branded locks. The company took over Dutch locks & light maker AXA Stenman Holding in July 2015.
Creating scale and consolidation
In a November 2015 Bike Europe interview Kryptonite GM Nick Watkin said that the AXA take-over allowed Kryptonite to accelerate its growth in Europe. With Trelock, that has a complimentary product range with AXA and Kryptonite, the company will do that even more. With adding Trelock to its portfolio Allegion is also creating scale in the fragmented bike market and is one more example of the ongoing consolidation trend within the industry.
Strong footprint in EU and presence in Asia
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.
New facility opened last year
Last year Trelock opened a new production facility in Münster, Germany. The company announced a 5 million euro investment plan for this new facility on which Andreas Rott CEO and owner of Trelock said, “In 2014 we decided to bring back production back to Europe as we want to be more flexible for our customers, increase efficiency, reduce our lead times, improve communication and thus strengthen our innovation. This required a production location in Europe and as we originate from this area we have chosen Münster for our new facility.”
Broad distribution capabilities
“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. “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.”
Leveraging combined global demand
Trelock Managing Director Andreas Rott will remain with the Trelock business after close in a consulting capacity, supporting the portable security team in executing on its growth strategies. On the take-over he said, “Both Trelock and Allegion have employees that have a passion for excellence – driving us to provide the best products and customer experiences possible. Working together in the portable security space and leveraging combined global demand creation activities will create tremendous opportunities for continued growth.”
Terms of the transaction were not disclosed.