UTC Acquires Red Hawk and Expands Chubb
â€œChubb is a global leader in the security industry and a household name in many countries around the world. The opening of the new Chicago office brings the company one step closer to achieving this goal in America as well,â€ said Edward James, manager of the Chubb Chicago office.
UTC Fire and Security also announced the acquisition of Red Hawk Industries, Denver, an integrated security solutions provider with branch locations throughout the United States. Subject to approval, the transaction will expand UTCâ€™s security services in North America.
Red Hawk, which integrates, repairs, installs and maintains a full range of security technology products and equipment solutions, employs about 800 people in the U.S. and had 2005 sales of $142 million. The purchase price is slightly less than one times sales.
â€œRed Hawk is a strong player in the financial services segment. Its ability to deliver integrated security solutions combined with its expertise in ATM placement and maintenance will enable us to provide additional value to our current and future customers,â€ said Bill Brown, UTC Fire and Security president.
For more information about UTC Fire and Security, visit www.utcfireandsecurity.com.