Bosch Building Technologies is to expand its international business with the acquisition of Protec Fire and Security Group Ltd, a British fire detection and security technology specialist.
Protec, founded back in 1968 and based in Nelson, Lancashire, is one of the largest system integrators for fire detection and security technology in the UK. It employs roughly 1,100 people across nine locations in the UK and abroad and boasted expected sales in the 2021 fiscal year of £125 million.
The company’s services and products are used in numerous sectors, including industry, airports and railway stations amongst others.
Corresponding agreements were signed by both parties on October 22 for the purchase to go ahead, with the fee involved to remain undisclosed. The acquisition, subject to approval by the relevant antitrust authorities, offers immense growth potential for Bosch thanks to Protec’s strong brand, skilled personnel, industry expertise, innovative portfolio, broad client base and strong market position.
Indeed, the UK is the largest market for security and fire detection technology in Europe, besides Germany.
Bosch Building Technologies president, Thomas Quante, commented: “With the acquisition of Protec, Bosch Building Technologies aims to expand its business and grow further in the European market.
“With its market presence in the UK, Protec is an ideal complement for Bosch Building Technologies. 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.”
Bosch Building Technologies is currently in the process of developing its European system integrator business in Germany and the Netherlands and is active as a system integrator in the US and Asian markets.
The Netherlands is one of Protec’s own priority markets alongside the UK, and accounts for the largest share of the business’ overseas sales. Protec largely trades under the Hacousto Protec brand in the Dutch marketplace and has three operating locations in the country to complement its five sales locations in the UK, plus its corporate headquarters at Nelson.
Barrie Russell, founder and chairman of Protec Fire and Security Group Ltd, said: “With Bosch, we found a great partner who values our history, brand and our extraordinary team. I believe this cooperation will open up great opportunities for our company as well as our employees and lead into a successful future.”
Quante believes that through Protec’s standing in the Dutch market, Bosch Building Technologies has an opportunity to consolidate its market position in the Netherlands.
“In the Dutch market, Protec and its complementary customer and competence structure is an excellent expansion of Bosch Building Technologies’ current business. 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,” he said.
Photo by Jan Böttinger on Unsplash
