Honeywell, Louisville, Ky., has signed a definitive agreement to acquire Burtek Systems Corp., Burnaby, British Columbia, and the Security Systems Division (SSD) from Richardson Electronics Ltd. for $80 million. The transaction is subject to regulatory requirements but is expected to close this summer.
Burtek is a distributor of low voltage products for commercial and residential audio, burglar and fire alarm, CCTV, access control and data communications. It will be integrated with Honeywell’s ADI security and low voltage products distribution business.
With 2006 sales of more than $108 million, Burtek has 11 branches in Canada, five branches in the United States, and several key locations in Europe and Latin America. ADI, Melville, N.Y., has more than 200 branch locations in the United States, Canada, Europe, Puerto Rico and India.
“Burtek has a very strong product portfolio and solid vendor relationships that align well with ADI’s portfolio and vendor relationship model,” pointed out Randy Teague, vice president marketing, ADI North America. “We believe our customers will see this acquistion as a positive step, and we’ll be making every effort to involve our customers, by carefully listening to their input and considering their needs as we move forward.”
Honeywell to Acquire Burtek Systems
June 1, 2007