Sargent and Greenleaf (S&G), a manufacturer of mechanical and electronic locks, announced Jan. 30 that OpenGate Capital, a global private equity firm, entered into an agreement to acquire S&G from Stanley Black & Decker.
Richmond Alarm announced the acquisition of Becker & Ellington Security Systems of Midlothian, Va. The transaction is the second Richmond Alarm has made in the past year. The merger is anticipated to result in double digit growth for Richmond Alarm as they continue to expand their central Virginia physical security services footprint and offer the latest technology to residential and commercial customers.
Johnson Controls International plc announced a definitive agreement to sell its Power Solutions business to Brookfield Business Partners L.P. together with institutional partners including Caisse de dépôt et placement du Québec in a cash transaction valued at $13.2 billion.
Bates Security LLC, a commercial and residential security company based in Kentucky with branches in Prestonsburg, Ky. and Jacksonville, Fla., has acquired HITEC Security from Tommy Kidd, owner of the Pikeville, Ky. Security company. Both Bates Security and HITEC are family-owned and operated businesses based in Kentucky. With the acquisition, Bates will be adding over 600 accounts to its customer base in Prestonsburg, where Bates does business under the ABCO Security name.
IBM and Red Hat, a provider of open source cloud software, have reached a definitive agreement under which IBM will acquire all of the issued and outstanding common shares of Red Hat for $190 per share in cash, representing a total enterprise value of approximately $34 billion.
Kingswood Capital Management LLC, an operationally focused, lower-middle market private equity firm, announced that it acquired Houston-based WAVE Electronics Inc. Kingswood will merge WAVE with its portfolio company, AVAD LLC. In bringing together WAVE and AVAD, Kingswood said it will create the largest value-added distributor of high-end audio, video, security and home automation solutions in the consumer electronics industry.
UTC Climate, Controls & Security has completed its acquisition of S2 Security, which will be combined with Lenel, to create LenelS2, a global leader in advanced access control systems and services. Through the collective strengths of both companies, LenelS2 will provide scalable, cutting-edge customer solutions in the access control and security management systems industry, serving global enterprises to small- and mid-sized companies. The business is part of UTC Climate, Controls & Security, a leading provider of fire safety, security, building automation, HVAC and refrigeration systems, a unit of United Technologies Corp.