Sielox LLC, Runnemede, N.J., a provider of access control solutions since 1979, was acquired through a management buyout with additional funding secured from a group of seasoned private investors. Sielox will become a private company under the new management structure. The executive management team is led by Karen Evans as the company’s president and chief executive officer. Terms of the deal were not disclosed.
Sielox’s new investors include Richard Hoel and a group of established security technology investors. Sielox’s customer base, business partner channel and technology pipeline were cited as deciding factors in the acquisition, as well as the existence of valuable synergies between Sielox and the existing portfolio of companies.
“This investment in Sielox is a validation of the quality, sustainability and marketability of the solutions we have developed over the years. Becoming a private entity will allow us to allocate more funds into product development and fast track them for delivery to our business partner channel. We are committed to building our sales and business partner channel to ensure our continued success,” Karen Evans said.