Bosch Building Technologies plans to acquire Protec Fire and Security Group Ltd. a system integrators for security and fire detection technology, headquartered in Nelson, U.K.
Corresponding agreements were signed by Bosch and Protec on Oct. 22, 2021. Protec employs around 1,100 employees at its nine European locations in the U.K. and the Netherlands and generated sales of GBP 125 million (around 142 million Euro) in the fiscal year 2021, according to preliminary figures.
“With the acquisition of Protec, Bosch Building Technologies aims to expand its business and grow further in the European market,” said Thomas Quante, president of Bosch Building Technologies.
The purchase price will not be disclosed. The acquisition is subject to approval by the relevant antitrust authorities.
Bosch Building Technologies currently has the focus of its European system integrator business in Germany and the Netherlands. In addition, the Bosch division is also active as a system integrator in the USA and Asia.
“With its market presence in the U.K., Protec is an ideal complement for Bosch Building Technologies,” Quante said. “Together, we want to continue to expand the business, building on Protec’s strong brand with an innovative product and service offering, the highly experienced management that is committed to the company, and the employees who have in-depth industry knowledge and a high level of customer service.”
Protec Fire and Security Group Ltd. was founded in 1968. The company’s services and products are used in numerous sectors, for example, in industry, airports and railway stations.
“With Bosch, we found a great partner who values our history, brand and our extraordinary team,” said Barrie Russell, founder and chairman of Protec Fire and Security Group Ltd. “I believe this cooperation will open up great opportunities for our company as well as our employees and lead into a successful future.”
Alongside the U.K., the Netherlands is another important market for Protec, accounting for the largest share of its overseas sales. Here, the company is mainly active under the brand Hacousto Protec.
“In the Dutch market, Protec and its complementary customer and competence structure is an excellent expansion of Bosch Building Technologies’ current business,” Quante said. “The acquisition will significantly strengthen our joint market position in the security and fire detection technology sector, create a broader service offering for our customers and expand the product portfolio in the Security & Life Safety area.”
Protec maintains five sales locations in the U.K. in addition to its corporate headquarters with an affiliated development and manufacturing center in Nelson, Lancashire. The company also has three locations in the Netherlands.