Honeywell Inks $80M Deal to Acquire Burtek Systems
LOUISVILLE, Ky.
Honeywell has signed a definitive agreement to acquire Burtek Systems Corp. and the Security Systems Division (SSD) from Richardson Electronics Ltd. for $80 million. The transaction is subject to regulatory requirements.
Burtek will be integrated with Honeywell’s ADI security and low-voltage products distribution business, which has more than 200 branch locations in North America, Europe and Asia Pacific.
“We’re excited because Burtek really complements ADI from both a strategic perspective and geographic perspective, especially in Canada where they have a very strong presence,” ADI North American Vice President of Marketing Randy Teague tells SSI.
Burtek is a distributor of low-voltage products for commercial and residential audio, burglar and fire alarm, CCTV, access control and data communications. With 2006 sales of more than $108 million, Burtek serves customers in Canada, the United States, Latin America and Europe, and will expand Honeywell’s global presence in security and low-voltage products distribution.
“Jointly, we will have the opportunity to better serve those customers that each respective business has, including the ability to have a stronger and broader vendor portfolio that we can offer customers from both sides,” continues Teague.
ADI expects to begin working together with Burtek by summer when all regulatory approvals and filings have been completed.
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