Vanderbilt, the security product manufacturer, has entered into a definitive agreement to acquire the Irish firm Access Control Technology Ltd (ACT). Vanderbilt says this purchase will strengthen it in access control.
This is the latest M&A activity since Vanderbilt completed the acquisition of the Siemens Security Products business in 2015. Vanderbilt says this will increase its market position in the access control market, with emphasis in Ireland and the UK.
ACT was formed in 1995 and specializes in the design and manufacture of electronic access control, video management, and door entry systems. ACT is based in Dublin, has an office in Manchester, and distributes in Europe, Asia and the Middle East, with plans to enter the North American market.
Vanderbilt’s CEO, Joseph Grillo, said: “The acquisition of ACT boosts Vanderbilt’s reach in the access control market and enhances our product portfolio with the addition of a cloud based access control system and a tightly integrated VMS . With the integration of the Siemens business complete, it was time to look at new opportunities.”
And David Tymlin, ACT Managing Director, said: “We are pleased to have the opportunity to be part of a larger and strong international organization which will open exciting new market opportunities for the ACT product range. In the course of just a few years, Vanderbilt has established itself as a fast growing market leader and we recognised a wonderful opportunity to become part of their future success.”
Financial details of the transaction were not released. The transaction is expected to close in the fourth quarter of 2016.
Visit www.vanderbiltindustries.com and www.act.eu.
