Summit Partners Sells Elatec Shares to Allegion for €330M
Deal News | Jun 18, 2025 | Goodwins
Goodwin has advised Summit Partners, a leading global alternative investment firm, on the sale of its shares in ELATEC, a prominent provider of RFID solutions, to Allegion plc, a global leader in the security and access industry. This transaction is valued at €330 million on a cash-free, debt-free basis and is expected to close in the third quarter of 2025. Summit Partners, with over $32 billion in capital under management, focuses its investments in technology, healthcare, life sciences, and growth industries, having invested in over 700 companies globally. ELATEC offers cutting-edge solutions in the short range wireless readers/writers domain, while Allegion specializes in security solutions with over 30 brands sold in 120 countries. The transaction team at Goodwin was led by Munich partner Dr. Jan Schinkth with significant contributions from both the Munich and international offices, indicating the global importance and complex regulatory framework of this transaction.
Sectors
- Private Equity
- Technology
- Security and Access Control
- Legal Advisory
Geography
- Global – Summit Partners, ELATEC, and Allegion all have global operations, with a worldwide impact of the transaction.
- United States – Summit Partners is based in the U.S., and Allegion operates extensively within the country.
- Germany – ELATEC is a German company, and the transaction team from Goodwin was led from their Munich office.
- Ireland – Allegion plc is an Irish company, adding to the geographic diversity of the entities involved.
Industry
- Private Equity – Summit Partners, a global alternative investment firm, represents the private equity industry.
- Technology – ELATEC provides solutions related to short range wireless readers/writers, placing it within the technology sector.
- Security and Access Control – Allegion is a global pioneer in the security and access industry, relevant to the acquisition discussed.
- Legal Advisory – Goodwin's legal team advised on the sale, representing the legal advisory industry.
Financials
- €330 million – Purchase price for ELATEC on a cash-free, debt-free basis.
- $32 billion – Capital currently managed by Summit Partners.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Summit Partners | Seller | Company | A global alternative investment firm managing over $32 billion in capital. |
| ELATEC | Target company | Company | A leading global provider of RFID solutions. |
| Allegion plc | Buyer | Company | A global company specializing in security and access solutions with operations in 120 countries. |
| Goodwin | Legal advisor | Company | A law firm advising Summit Partners on the sale of ELATEC. |
| Dr. Jan Schinkth | Lead Partner | Person | Munich partner at Goodwin leading the transaction team. |