Vanderbilt Industries to Acquire Siemens’ Security Product Business
Vanderbilt Industries, Parsippany, N.J. announced it has entered into an agreement to acquire Siemens’ Security Products business, part of the Siemens’ Building Technologies Division, Frankfurt. The business will be renamed Vanderbilt International and security industry veteran Joseph J. Grillo will be managing director of the business based in the new operational headquarters in Germany.
The acquisition will significantly boost Vanderbilt’s market position in the European security systems market through a wider and more comprehensive range of products and solutions. According to a press release, Siemens’ Security Products (SP) complements Vanderbilt’s existing business portfolio as a leading supplier with widely recognized brands and long-term relationships with pre-eminent customers.