Deal closed: Vanderbilt buys Siemens Security Products
PARSIPPANY, N.J.—Vanderbilt Industries today announced it has completed the acquisition of the Security Products business from Siemens.
The deal, announced in October, expands Vanderbilt’s footprint, R&D capabilities and product portfolio. The business has been rebranded as Vanderbilt and is headquartered in Wiesbaden, Germany.
Joseph Grillo, Vanderbilt managing director, spoke to Security Systems News in November about the deal. He said Vanderbilt will look for more acquisitions.
The company said it will expand beyond its presence here in North America and in Europe and is particularly interested in South America and Asia Pacific.
The Security Products division brings with it access control, intrusion alarm and video surveillance products. Its brand names include: Aliro, Alarmcom, Bewator, Cotag, Europlex, SPC and Vectis. Vanderbilt plans to retain existing brand names.
In a prepared statement, Grillo said the company has "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