Honeywell Security has announced a definitive agreement to
acquire Gardiner Groupe Europe from Electra Partners
Europe, a private equity firm. Although the transaction is
subject to regulatory review, Honeywell expects to complete
the deal by this spring. The terms of the agreement were
not disclosed.

The Paris-based Gardiner Groupe Europe reported $250 million in revenue for 2005 and plans to join Honeywell’s ADI Int’l business, a distributor of security and low-voltage products in Europe. The move is designed to strengthen ADI’s scope in security distribution throughout Europe.

Ben Cornett, president of Honeywell Security, believes that the Gardiner Groupe acquisition will enhance the scope of Honeywell’s product distribution within Europe. “Gardiner’s extensive European footprint and strong customer relationships strategically complement our distribution business in Europe. We look forward to building upon that strong foundation,” says Cornett.

Gardiner is a distributor of CCTV systems; fire alarm; intrusion alarm; access control; public address; integrated systems; and other types of low-voltage equipment.

“This agreement will complement ADI’s and Gardiner Groupe Europe’s strengths to offer the best solutions to the market, while creating one of the most efficient distribution networks for security products in EMEA,” says Tom Polson, president of ADI. “By expanding our global presence we’ll improve our efficiencies, broaden our inventory and develop programs that directly benefit our customers, we will deliver a value unmatched by anyone.”

In February 2005, Honeywell began to expand ADI, its North American security and low-voltage products distribution business, into Europe. ADI Int’l now has 34 locations in 14 countries.

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