Potter acquires Elmdene
ST.LOUIS, Mo.--Making good on his February promise that Potter Electric Signal would bust out of its conservative mold and that the industry would "see a new and more energized," company, Potter president Bernie Lears on April 23 announced that it had acquired UK-based Elmdene International.
Terms of the deal, which closed in late March, were not disclosed.
In a statement, Lears said the buy "strengthens Potter's position in the fire and security markets through a broadened product line, increased international reach and enhanced production and sourcing capabilities." He also noted that Elmdene, which has 100 employees whom Potter intends to retain, "brings a talented senior management team that has grown Elmdene to a leading position in the industry."
In January, a group of investors--led by Two Rivers Associates and including current Potter management--purchased Potter from a family trust. (Search "Potter energized" at www.securitysystemsnews.com for more details.)
Elmdene manufactures and designs fire and security detection products such as magnetic contacts, shock and vibration sensors, internal and external sounders, as well as a line of dedicated power supplies for fire detection, CCTV, intruder alarm and access control applications.
Tony and Celia Earl and a group of minority shareholders previously owned Elmdene. Tony Earl will stay on as chairman of the board of Elmdene. Sean Heskett, of Potter Electric, will serve as president of Potter Europe and managing director of Elmdene.
For more on this story, including comments from Bernie Lears, see the June issue of Security Systems News.