State-of-the-art security systems provider Vanderbilt Industries announced today that it has entered into an agreement to acquire Siemens’ Security Products business, which is part of the Siemens Building Technologies Division.
Under the terms of the deal, the combined offer would be renamed Vanderbilt International. Joseph Grillo would become the company’s managing director working out of new operational headquarters in Germany.
Grillo is a 30-year veteran of the electronic security and identification industries with a track record of successfully growing, restructuring and acquiring businesses. He began his career in the 1980s working at security and fire alarm manufacturing and systems integration companies including Kidde Automated Systems, NCS and Security Specialists.
In 1993, Grillo was appointed national sales manager for the HID Corporation and participated in the management buy-out of HID from Hughes Aircraft/General Motors in 1995. From 1995 to 2001, Grillo served as executive vice-president of sales and marketing and also COO, eventually becoming president as HID grew from a $15 million card and reader company to the dominant $100 million industry leader that it is today.
This latest acquisition would significantly boost Vanderbilt’s market position in the European security systems sector by dint of a wider and more comprehensive range of products and solutions being realised. Siemens’ Security Products business complements the existing Vanderbilt business portfolio as a leading supplier boasting widely recognised brands and long-term relationships with pre-eminent customers.
Broadening the business’ competitive position
Joseph Grillo has stated that this transaction will considerably expand Vanderbilt’s presence in the security sector by broadening the company’s competitive position in what is a highly fragmented market with great growth potential.
“The acquisition of Siemens’ Security Products business, which fits perfectly with our own corporate strategy, matches Vanderbilt’s solid foundation and strong legacy built from nearly three decades of operation in the security world,” explained Grillo.
“Vanderbilt saw an opportunity to expand its product offering and geographic market coverage. The addition of Siemens’ Security Products represents significant value potential given 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. Security Products clearly provides a vehicle for offering these solutions to a broader customer base.”
Access control, intruder alarm and video surveillance solutions
Siemens’ Security Products business covers solutions in the access control, intruder alarm and video surveillance categories, in turn complementing Vanderbilt Industries’ fully-integrated product offerings.
The acquisition encompasses such well-known and established brands as Bewator and Cotag in the access control sector and Alarmcom and Europlex in the intruder alarm space.
Financial details of the transaction have not been 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.
A subsidiary of ACRE LLC (which acquired the company from Ingersoll Rand in 2012), Vanderbilt Industries offers an innovative approach to access control technology – from design and manufacturing through to distribution. The company’s mission is to make 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 through to highly customised applications fitting the bespoke requirements of leading multinational corporations.