Honeywell acquires Gamewell
March 13, 2003
ASHLAND, Mass. - Honeywell Fire Solutions Group is expanding its reach in the fire products market, recently announcing its acquisition of The Gamewell Co., a privately held manufacturer of commercial fire systems.
The purchase of the commercial products manufacturer that introduced the first wide-area network fire reporting system is expected to strengthen HoneywellÃ¢â‚¬â„¢s already strong presence in the fire market. The purchase price for the 151-year-old company was not released.
Ã¢â‚¬Å“The market is really now divided up among four major players,Ã¢â‚¬Â said Lee Devito, president of research and consulting firm FirePro. He said those left with large shares of the fire market include Tyco, Siemens, Edwards Systems Technology and Honeywell.
Honeywell has a significant share of the estimated $1 billion fire market, with approximately $280 million in revenues in its fire business through its Notifier, FCI, Fire Lite, Silent Knight and System Sensor companies and now its Gamewell division, according to research from FirePro.
But compared with its other fire companies, Gamewell is small in comparison, said Devito, with an estimated $10 million in revenues according to 2000 numbers. GamewellÃ¢â‚¬â„¢s customer base, made up of engineered systems distributors, may have been an appealing aspect of the transaction, he said.
Mark Levy, president of HoneywellÃ¢â‚¬â„¢s Fire Solutions Group said Gamewell is a strategic fit with HoneywellÃ¢â‚¬â„¢s existing portfolio and GamewellÃ¢â‚¬â„¢s distribution channel will help the company continue to grow.