Bosch acquires Climatec
Via the acquisition, Bosch says it becomes a single-source provider of energy, building automation and security solutions for public, commercial and industrial customers in the US.
Robert Bosch North America Corporation (Bosch - Farmington Hills, MI) announced that it has acquired Climatec, LLC, a major provider of energy efficiency, building automation, security and life-safety solutions for the U.S. market.
“With the addition of Climatec, we are expanding our global presence especially in the growing North American market, strengthening our portfolio and becoming a comprehensive supplier of solutions in the area of energy, building automation and security services,” commented Dr. Stefan Hartung, member of the Bosch board of management responsible for the Energy and Building Technology business sector.
Headquartered in Phoenix, AZ, Climatec, LLC generated sales of 170 million dollars (128 million euros) in 2013. According to preliminary figures, Climatec increased its sales in 2014 to about 190 million dollars (143 million euros), noted a Bosch press release. Climatec employs some 670 associates at a total of twelve offices across Arizona, California, Nevada and Texas. The company has been majority-owned by Pegasus Capital Advisors, L.P. since April 2012. Terms of the transaction were not disclosed.
“The entrepreneurial spirit, industry expertise, customer focus and shared cultural values that have made Climatec successful are an excellent match for Bosch," added Hartung. "Our heating, energy service, security systems, software, sensors and storage technology expertise, combined with the Climatec portfolio, positions Bosch to achieve Energy and Building Technology business sector sales of ten billion dollars (eight billion euros) in 2020.”
Climatec is recognized in the building industry as an independent single-source integrator of critical building systems including energy services, building automation and security system integration in the U.S. market. The company provides consulting, planning, implementation and 24/7 remote management of comprehensive comfort, security, safety and efficiency systems. Climatec is active in several market segments and industries, including education, healthcare, the public sector, industrial/manufacturing, computing services, office buildings, federal, state and local government, hospitality and energy. Combining these strengths, by acquiring the company, Bosch says it can now offer customers a complete portfolio of networked and efficient energy, building automation and security solutions.
In the acquisition, Climatec will operate as a largely independent entity, maintaining its offices in Arizona, California, Nevada and Texas. Operations will continue to be run by the same management team. Climatec will continue to represent and integrate numerous leading manufactures’ product lines across its wide range of services, including Bosch products. As before, the Bosch Security Systems division, Fairport, NY, will continue to sell its security and safety products in the North American market through leading distributors and system integrators.
“Over its 40-year history, Climatec has established itself as a trusted provider of building comfort, safety and efficiency solutions across nearly all building segments. I was immediately impressed by Bosch’s determination to create an environment that would preserve our business model and customer focus,” said Terry Keenen, president, Climatec, LLC. “I am confident that this acquisition will strengthen our position for sustained growth, benefitting our customers and employees.”