The FINANCIAL — Robert Bosch North America Corporation has acquired Climatec, LLC, a provider of energy efficiency, building automation, security and life-safety solutions for the U.S. market, according to Robert Bosch GmbH.
Headquartered in Phoenix, AZ, Climatec, LLC generated sales of 170 million dollars (128 million euros) in 2013. According to preliminary figures, Climatec increased its sales in 2014 to about 190 million dollars (143 million euros). The company employs some 670 associates at a total of twelve offices across Arizona, California, Nevada and Texas. Climatec has been majority-owned by Pegasus Capital Advisors, L.P. since April 2012. Terms of the transaction were not disclosed.
“With the addition of Climatec, we are expanding our global presence especially in the growing North American market, strengthening our portfolio and becoming a comprehensive supplier of solutions in the area of energy, building automation and security services,” said Dr. Stefan Hartung, member of the Bosch board of management responsible for the Energy and Building Technology business sector. “The entrepreneurial spirit, industry expertise, customer focus and shared cultural values that have made Climatec successful are an excellent match for Bosch. 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 ten billion dollars (eight billion euros) in 2020,” he added.
“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. I was immediately impressed by Bosch’s determination to create an environment that would preserve our business model and customer focus,” said Terry Keenen, president, Climatec, LLC. “I am confident that this acquisition will strengthen our position for sustained growth, benefitting our customers and employees,” Keenen added.
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