Bosch announced it will acquire Paladin Technologies, a Vancouver, B.C., Canada-based provider of security and life safety solutions and system integration services in North America.
Corresponding agreements were signed by Bosch and Paladin Technologies, part of the Paladin Group of companies, on July 4. The acquisition is subject to regulatory approvals. Paladin employs around 1,500 associates across 35 locations in Canada and the United States with projected 2023 sales approaching $400 million. Terms of the transaction were not disclosed.
The acquisition is said to complement Bosch’s 2015 deal for Climatec, a provider of energy efficiency, building automation, security and life safety solutions for the U.S. market.
“Energy efficiency and security needs are driving factors for the modernization of commercial buildings, particularly in the North American market,” said Christian Fischer, deputy chairman of the Bosch board of management who is responsible for the company’s Energy and Building Technology and Consumer Goods business sectors.
Fischer continued, “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.”
“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,” stated Thomas Quante, president of Bosch Building Technologies. “Paladin Technologies and Climatec have exciting opportunities to collaborate and bring comprehensive offers to our customers, building upon their respective market positions, strong brands, highly experienced leadership teams and the tremendous industry expertise of their employees.”
Bosch Building Technologies currently offers building automation, security, life safety and energy efficiency services in the U.S. with offices across 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,” stated Ted Reid, CEO of Paladin Technologies. “We’ve also been impressed by the success of Bosch’s building services growth in the USA and look forward to succeeding together as we build upon our shared values of innovation, teamwork, and the development of our people.”
Paladin Technologies serves the entire Canadian market with 18 offices and the U.S. market with 17 offices across New York, Texas, California, the Southwest, Pacific Northwest and Midwest regions. The company’s portfolio comprises video surveillance, access control and intrusion detection as well as network infrastructure, monitoring, and advanced audio-visual solutions.
With its market presence in Canada and key metropolitan areas in the US, Paladin Technologies is an ideal addition to Bosch’s system integration business, according the announcement. For instance, Paladin Technologies is responsible for the design and installation of security systems for Royal Columbian Hospital, enhancing patient experiences, while maintaining the continuity of the hospital services as it is one of only two trauma centers within the province. The integrator also protects the assets of Cargill facilities, an international provider of food, agriculture, financial and industrial products and services.
Through Climatec, Bosch implements innovative projects across the North American market. For example, The Spiral, a premier office high-rise skyscraper in New York City , which Climatec equipped with an advanced building automation system. Another example is in Ontario, Calif., where Climatec implemented significant building modernization and renewable energy systems that save the city millions in utility and operating costs, according to the announcement.
