CORPORATE
PAC-GDX acquisition: Comelit conquers the UK.
Bergamo, Nov. 09, 2021 – Comelit Group gets bigger by closing the acquisition of PAC-GDX, a historic excellence in the British market in IP-based access control and part of the British company Stanley Security, which is part of the American multinational Stanley Black&Decker.
“The transaction is part of our Group’s development process, which in addition to organic growth also includes growth through acquisitions in strategic sectors. This acquisition aims to have advanced professional access control solutions, to be conveyed in all international markets.
This is an acquisition that has taken a lot of effort on the managerial front and was made possible by the financial strength we have. We now have a great deal of work ahead of us to put the full potential of the acquisition to good use. Starting with research and development activities, with the goal of developing new integrated access control and video door entry solutions. We want the new Comelit PAC to become the competence center for the entire world of access control in the service sector. We also want to immediately leverage our international presence to export PAC access control solutions to all countries where we operate.”
Edoardo Barzasi – CEO of Comelit
“A strategic move of great importance to improve our position in the British and world markets. Today Comelit closes the circle by offering its customers the whole range of possible options related to Security: video door entry, burglar alarm, fire alarm, home automation and, precisely, access control. In most European and non-European countries, in fact,” he continues, “when we are faced with a specification for a new building, this service is often requested along with the video door entry system: until now we have been forced to rely on external suppliers so as not to miss major opportunities, but from today we can boast a complete offer from every point of view.”
Marco Giugnetti – Export Sales Director
PAC-GDX, with revenues of more than 10 million euros, represents one of the top players in the United Kingdom, which is one of the most prosperous markets in all of Europe in terms of access control. The acquisition was executed through the UK subsidiary Comelit UK, which will proceed with the incorporation of PAC and assume the name Comelit-PAC.
All this after a 2021 that has already recorded a delta of +30% in the UK compared to last year, for an absolute value of more than 21 million euros. “It is a historic and memorable year,” admits the head of the newly formed Comelit PAC
“The negotiation was long and complex, but the goal was finally achieved: as of November 8, PAC became to all intents and purposes a Comelit UK business unit. This is a very important result for the Group’s positioning, the result of careful research and selection of potential targets and in line with the company’s growth strategy and constant attention to maintaining its economic-financial balance”.
Matteo Tiraboschi – Chief Financial Officer of Comelit
“A process that represents added value for both companies. Investment has also involved our Luton headquarters, as well as the opening of a prestigious centre of excellence in Manchester in which to grow the new Comelit PAC Ltd, which already employs over 90 people. In Luton we are investing heavily in warehouse expansion, increasing our inventory to enable us to deliver goods faster and more efficiently. The new offices in Manchester will be home to our R&D, along with product management, technical support and customer care for PAC-GDX. It is a historic and memorable year. As the world around us changes rapidly, Comelit UK has managed to interpret and seize the opportunities in the market. We have come together, supporting each other in order to improve the service and solutions we bring to our customers. Meanwhile we have always remained proactive, continuing to launch our products with innovations such as Ultra and Secur Hub. All this has led us to emerge from a complex period as a true team, knowing that we are stronger together and with a clear direction to follow.
Francesca Boeris – Managing Director of the Comelit UK subsidiary
