Bosch Acquires Climatec, Bolsters Energy and Building Technology Business
Bosch has acquired Phoenix-based Climatec, a provider of energy efficiency, building automation, security and life-safety solutions.
Bosch North America Corp., which operates Bosch Security Systems, has acquired Climatec, a provider of energy efficiency, building automation, security and life-safety solutions for the U.S. market for an undisclosed amount.
Phoenix-based Climatec is an independent single-source integrator of critical building systems including energy services, building automation and security system integration in the U.S. market. The firm provides consulting, planning, implementation and 24/7 remote management of comprehensive comfort, security, safety and efficiency solutions for the education, healthcare, government, energy, hospital, public security and industrial markets.
Majority-owned by Pegasus Capital Advisors since 2012, Climatec generated $190 million in sales in 2014. The firm employs up to 670 associates at a total of 12 offices across Arizona, California, Nevada and Texas.
“The entrepreneurial spirit, industry expertise, customer focus and shared cultural values that have made Climatec successful are an excellent match for Bosch,” says Dr. Stefan Hartung, a member of the Bosch board of management responsible for the Energy and Building Technology business sector. “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 $10 billion in 2020.”
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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. The company will continue to represent and integrate numerous leading manufactures’ product lines across its wide range of services, including Bosch products.
“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,” Climatec President Terry Keenen says. “I was immediately impressed by Bosch’s determination to create an environment that would preserve our business model and customer focus. I am confident that this acquisition will strengthen our position for sustained growth, benefitting our customers and employees.”
The Bosch Energy and Building Technology business sector combines several areas of expertise: broad technical systems know-how in video surveillance systems, intrusion and fire detection, access control, alarms, evacuation and public address systems, professional audio and conference systems, as well as water heating and comfort heating systems.
Additionally, the firm offers software and sensor technology for internet of things connectivity. Bosch also offers services for energy management, remote monitoring, and the handling of business processes.
The Bosch Security Systems division will continue to sell security and safety products in the North American market through leading distributors and system integrators.
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