Vanderbilt Completes Acquisition of Security Products From Siemens
June 2, 2015
Vanderbilt Industries has completed the acquisition of Security Products from Siemens, as previously announced in October 2014. The purchase fits with Vanderbilt’s strategic expansion plans, and the new operation will be headquartered in Wiesbaden, Germany, with Joseph Grillo as its managing director.
The acquisition will not only considerably expand the company’s presence in the security industry but will also enhance its competitive position in what is a highly fragmented market with great growth potential. With excellent coverage in the mature markets of North America and Europe, Vanderbilt is now looking to expand further into other areas including South America and Asia Pacific.
According to a press release, the company’s enhanced resources and ability to provide more products than ever before are already drawing interest in these regions.
For previous coverage on this acquisition, visit www.sdmmag.com/articles/90608-vanderbilt-industries-to-acquire-siemens-security-product-business.