Bosch has announced a deal to acquire Vancouver-headquartered systems integrator Paladin Technologies to expand its building services business in North America, and specifically to enter the Canadian market. Paladin Technologies, which also supplies security and safety solutions, will be integrated into its building technologies division, subject to regulatory approval. Paladin Technologies has around 1,500 staff, 35 offices, and projected 2023 sales of nearly $400 million.
The agreed fee has not been disclosed. The purchase follows Bosch’s acquisition of building automation and security outfit Climatec in 2015, now part of its building technologies business. Bosch said the US is “one of the largest and fastest growing markets” for its building technologies business. The unit is part of Bosch’s energy and building technology division, which claimed revenue growth of 17.4 percent in 2022.
Bosch’s building technologies business has offices in Arizona, Texas, Nevada, California, New York, and New Jersey. Paladin Technologies has offices in the US in the New York, Texas, California, the Southwest, Pacific Northwest and Midwest regions. It serves the Canadian and US markets; its 35 offices are split (18 and 17) between the two countries. It sells video surveillance, access control, network infrastructure, IoT monitoring, and audio-visual solutions.
Between them, Paladin Technologies and Bosch have notable building integration and technology supply contracts with Royal Columbian Hospital in British Columbia, agricultural and industrial distribution and services company Cargill, New York office high-rise skyscraper The Spiral, and the City of Ontario in California.
Ted Reid, chief executive at Paladin Technologies, commented: “We’ve been impressed by the success of Bosch’s building services growth in the USA and look forward to succeeding together as we build upon our shared values of innovation, teamwork, and the development of our people.”
Christian Fischer, responsible for energy and building technology at Bosch, said: “Energy efficiency and security needs are driving factors for the modernization of commercial buildings, particularly in the North American market. These long-term trends have contributed to the growth of our subsidiary Climatec, which has significantly increased its sales and workforce since we acquired them in 2015. We want to continue Bosch’s success in the delivery of these vital services in the region, and helping make buildings greener, smarter, and safer.”
Thomas Quante, president of Bosch Building Technologies, said: “The acquisition… enables Bosch… to significantly expand its system integration business in North America by entering the Canadian market and increasing its US operations. Paladin Technologies and Climatec have exciting opportunities to collaborate and bring comprehensive offers to our customers, building upon their respective market positions, strong brands, highly experienced leadership teams and the tremendous industry expertise of their employees.”