Vanderbilt Industries Agrees to Acquire Siemens’ Security Product Business
Parsippany, New Jersey, & Frankfurt (PRWEB) October 20, 2014 -- Vanderbilt Industries, a global leader providing state-of-the-art security systems, announced today it has entered into an agreement to acquire Siemens’ Security Products business, part of the Siemens’ Building Technologies Division. The business will be renamed Vanderbilt International GmbH. Security industry veteran Joseph J. Grillo will be Managing Director, working from the new operational headquarters in Germany.
Acquisition will significantly boost Vanderbilt’s market position in the European security systems market through a wider and more comprehensive range of products and solutions
Siemens’ Security Products (SP) complements existing Vanderbilt business portfolio as a leading supplier with widely recognized brands and long-term relationships with pre-eminent customers
Joseph Grillo stated that this transaction will considerably expand Vanderbilt’s presence in the security industry by broadening the company’s competitive position in a highly fragmented market with great growth potential.
“The acquisition of Siemens’ Security Products, which fits our corporate strategy perfectly, matches Vanderbilt’s solid foundation and strong legacy built from nearly three decades in the security industry,” said Joseph Grillo.
“Vanderbilt saw an opportunity to expand its product offering and geographic market coverage. The addition of SP represents significant value potential with its established installed base of customers and loyal resellers. The market trend is for integrated security management systems and more open solutions from trusted suppliers. SP clearly provides a vehicle to offer these solutions to a broader customer base,” Grillo added.
Siemens’ SP consists of products in the access control, intrusion alarm, and video surveillance categories, which complement Vanderbilt Industries’ fully integrated product offerings. The acquisition includes such well-known and established brands as Bewator and Cotag in the access control segment and Alarmcom and Europlex in the intrusion alarm space.
Financial details of the transaction were not released. The transaction is subject to customary closing conditions. The closing of the transaction is expected to occur by the end of the first quarter of 2015.
About Vanderbilt
Vanderbilt Industries, a subsidiary of ACRE LLC, which acquired the company from Ingersoll Rand in
2012, is a global leader in creating state-of-the-art security systems. Vanderbilt’s innovative approach to access control technology - from design, manufacturing, through to distribution, makes environments safe, secure and easy to maintain. Vanderbilt’s products range from single-user systems so simple that they can be installed in one day to highly customized applications that fit the unique requirements of leading multi-national corporations. Our product line includes the lite blue™, bright blue® and SMS access control systems, as well as enterprise video solutions. To learn more, please visit http://www.vanderbiltindustries.com and follow us on Twitter @VanderbiltInd.
For Media:
Europe:
Pier Paolo Costa
Wise Media
Tel: +39 02 8903 4126
Email: pierpaolo.costa(at)wisemedia(dot)com
North America:
Bruce Doneff
Tel: +1 843 476 3022
Email: Doneff(at)verizon(dot)net
For Vanderbilt Industries:
Lynn Wood
Vanderbilt Industries
Tel. +1 973 316 3953
E-mail: Lynnwood(at)vanderbiltindustries(dot)com
http://www.vanderbiltindustries.com
Kirsten Pflomm, Vanderbilt Industries, http://vanderbiltindustries.com/, +1 843-379-3558, [email protected]
Share this article