Vanderbilt completes Siemens acquisition
By SP&T Staff
Vanderbilt Industries has completed the acquisition of the Security Products business from Siemens. The purchase, originally announced in October 2014, expands Vanderbilt’s global business, and adds significant technology capabilities and advantages to the existing product portfolio, according to the company.
By SP&T Staff
The combined operation, now known as Vanderbilt, will be headquartered in Wiesbaden, Germany, and Joseph Grillo, Managing Director, will lead the organization.
“The acquisition of Security Products from Siemens builds upon Vanderbilt’s solid foundation and strong legacy, which is derived from its nearly three decades of experience in the security industry,” said Grillo. “I’m delighted to finalize this purchase on schedule as it will enable our customers and partners to reap significant benefits.”
The acquisition not only considerably expands Vanderbilt’s presence in the security industry but will also enhance its competitive position in a highly fragmented market with strong growth potential. With significant presence in North America and Europe, Vanderbilt will now look to capitalize on opportunities in other high-growth regions including South America and Asia Pacific.
The Security Products division brings to Vanderbilt a comprehensive technology suite including access control, intrusion alarm and video surveillance products, as well as well-known brand names, such as Aliro, Alarmcom, Bewator, Cotag, Europlex, SPC and Vectis. The existing brands will remain intact for the foreseeable future.
“We’re the only independent business with proven capability to operate at this level in the industry while providing an agile and responsive service and support structure,” said Grillo. “As we welcome the Security Products division into the Vanderbilt organization, we will continue to focus on providing this level of exceptional service while delivering technologies that are intuitive, flexible and scalable. We have a commitment to reinvest at least 10 percent of our annual revenue into new research and development, and therefore, look forward to introducing new innovations that exceed industry expectations and drive sustained growth.”