Vanderbilt, a global leader providing state-of-the-art security systems, announced today it has entered into a definitive agreement to acquire Access Control Technology Ltd (ACT) based in Dublin, Ireland. This purchase will enhance Vanderbilt’s strategic expansion plans for strengthening its access control business and product portfolio.
This is the latest M&A activity since Vanderbilt completed the acquisition of the Siemens Security Products business in 2015. ACT will significantly increase Vanderbilt’s market position in the access control market, with an emphasis in Ireland and the UK, the company reported.
ACT was formed in 1995 and specializes in the design and manufacture of electronic access control, video management and door entry systems. ACT is headquartered in Dublin, has an office in Manchester, UK, and an active distribution network that includes Europe, Asia and the Middle East, with plans to enter the North American market.
Vanderbilt CEO Joseph Grillo stated that this transaction will continue to expand Vanderbilt’s competitive position in a highly fragmented market with great growth potential. “The acquisition of ACT boosts Vanderbilt’s reach in the access control market and enhances our product portfolio with the addition of a cloud-based access control system and a tightly integrated VMS,” Grillo said. “With the integration of the Siemens business complete, it was time to look at new opportunities.”
David Tymlin, ACT managing director, said, “We are pleased to have the opportunity to be part of a larger and strong international organization, which will open exciting new market opportunities for the ACT product range. In the course of just a few years, Vanderbilt has established itself as a fast-growing market leader and we recognized a wonderful opportunity to become part of their future success.”
Financial details of the transaction were not released. The transaction is expected to close in the fourth quarter of 2016.