CORPORATE
Acquisition of
PAC-GDX: Comelit conquers the UK.
Comelit Group acquires PAC-GDX to expand IP-based access control offering and increase revenues by 30% in 2021.
Bergamo, 09 November 2021 – Comelit Group is getting bigger by closing the acquisition of PAC-GDX, a historical excellence in the British market for 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. The aim of this acquisition is to have advanced professional access control solutions, to be deployed in all international markets.
It is an acquisition that has taken a lot of effort on the managerial front and that has been made possible thanks to our financial solidity. We now have a lot of work ahead of us to harness the full potential of the acquisition. Starting with research and development, with the aim of developing new integrated access control and video door entry solutions. We want the new Comelit PAC to become the competence centre for the entire world of access control in the tertiary sector. We also want to immediately exploit our international presence to export PAC access control solutions to all countries where we operate”.
Edoardo Barzasi, Comelit CEO
“A strategic move of great importance to improve our position in the UK and world market. Today Comelit closes the circle by offering its customers the full range of possible options related to Security: video entry systems, burglar alarms, fire alarms, home automation and, indeed, 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 together with the video entry system: until now we have been forced to rely on external suppliers so as not to miss out on 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 over 10 million Euros, is one of the leading players in the UK, which is one of the most flourishing access control markets in Europe. The acquisition was executed through the UK subsidiary Comelit UK, which will incorporate 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 negotiations were long and complex, but the goal was finally achieved: as of 8 November, PAC has become to all intents and purposes a Business Unit of Comelit UK. 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 economic and 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. In the meantime, 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 branch
