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Bosch to acquire Paladin Technologies

Bosch announced Wednesday its plan to acquire Vancouver-based systems integrator Paladin Technologies. The purchase price was not disclosed.

Paladin Technologies employs approximately 1,500 people across 35 locations in Canada and the U.S. The company’s projected 2023 sales are close to US$400 million.

Bosch said in a statement that the Paladin deal will complement its 2015 acquisition of Climatec, which is now part of Bosch Building Technologies and provides security, life safety, energy efficiency and building automation solutions in the U.S.

“Energy efficiency and security needs are driving factors for the modernization of commercial buildings, particularly in the North American market. These long-term trends have contributed to the growth of our subsidiary Climatec, which has significantly increased its sales and workforce since we acquired them in 2015. We want to continue Bosch’s success in the delivery of these vital services in the region, and helping make buildings greener, smarter and safer,” said Christian Fischer in a statement. Fischer is the deputy chairman of the Bosch board of management, responsible for the company’s energy and building technology and consumer goods business sectors.

“The acquisition of Paladin Technologies enables Bosch Building Technologies to significantly expand its system integration business in North America by entering the Canadian market and increasing its U.S. operations,” added Thomas Quante, president, Bosch Building Technologies.

Bosch Building Technologies’ U.S. offices currently include Arizona, Texas, Nevada, California, New York and New Jersey.

“I’ve always respected Bosch’s long-term business focus, its over 100-year reputation for innovation and its private ownership structure, in which the majority shareholder is a charitable foundation. We’ve also been impressed by the success of Bosch’s building services growth in the U.S. and look forward to succeeding together as we build upon our shared values of innovation, teamwork, and the development of our people,” said Ted Reid, CEO, Paladin Technologies.

The acquisition is subject to approval by relevant regulatory authorities. Paladin Technologies is part of the Paladin Group of companies, founded in 1976. Paladin was awarded Integrator of the Year by SP&T News in 2015.