Bosch to Acquire Paladin Technologies and Expand Its Building Services Business in North America
Bosch plans to acquire Paladin Technologies, Inc., headquartered in Vancouver, Canada – a provider of security and life safety solutions and system integration services in North America. This purchase complements Bosch’s 2015 acquisition of Climatec, LLC, with more than 1,000 associates in the US. Climatec is part of Bosch Building Technologies and offers energy efficiency, building automation, security, and life safety solutions for the US market. The US is one of the largest and fastest growing markets for Bosch Building Technologies. Paladin Technologies employs around 1,500 associates across 35 locations in Canada and the US with projected 2023 sales approaching $400 million.
Corresponding agreements were signed by Bosch and Paladin Technologies on July 4, 2023. It has been agreed that the purchase price will not be disclosed. The acquisition is subject to approval by the relevant regulatory authorities. “Energy efficiency and security needs are driving factors for the modernization of commercial buildings, particularly in the North American market. These long-term trends have contributed to the growth of our subsidiary Climatec, which has significantly increased its sales and workforce since we acquired them in 2015. We want to continue Bosch’s success in the delivery of these vital services in the region, and helping make buildings greener, smarter, and safer,” says Christian Fischer, the deputy chairman of the Bosch board of management who is responsible for the company’s Energy and Building Technology and Consumer Goods business sectors.
Bosch Building Technologies is part of Bosch’s Energy and Building Technology business sector and reports strong growth with its energy- and cost-efficient commercial building and building services portfolio. The business sector including Bosch Building Technologies grew in 2022 by 17.4 percent.
“The acquisition of Paladin Technologies enables Bosch Building Technologies to significantly expand its system integration business in North America by entering the Canadian market and increasing its US operations. Paladin Technologies and Climatec have exciting opportunities to collaborate and bring comprehensive offers to our customers, building upon their respective market positions, strong brands, highly experienced leadership teams and the tremendous industry expertise of their employees,” says Thomas Quante, president of Bosch Building Technologies.
Bosch Building Technologies currently offers building automation, security, life safety, and energy efficiency services in the US with offices across Arizona, Texas, Nevada, California, New York, and New Jersey. “I’ve always respected Bosch’s long-term business focus, its over 100-year reputation for innovation and its private ownership structure, in which the majority shareholder is a charitable foundation. We’ve also been impressed by the success of Bosch’s building services growth in the USA and look forward to succeeding together as we build upon our shared values of innovation, teamwork, and the development of our people,” says Ted Reid, CEO of Paladin Technologies.
Paladin Technologies, part of the Paladin Group of Companies founded in 1976 in Vancouver, is a leading provider of security and life safety solutions and system integration services. The company serves the entire Canadian market with 18 offices and the US market with 17 offices across New York, Texas, California, the Southwest, Pacific Northwest and Midwest regions. The company’s portfolio comprises video surveillance, access control and intrusion detection as well as network infrastructure, monitoring, and advanced audio-visual solutions. Paladin Technologies will continue to offer customized building solutions built upon the best technologies available from their product partners. “I’m excited for the opportunity to work with Ted and the Paladin Technologies team as we expand our services across North America. It was clear from our first meeting that our companies share a common customer and employee-focused culture with a tremendous passion for delivering safe, secure, and efficient building solutions,” said Mauro Lima Vaz, Senior Vice President of Bosch Integration Business for North America and CEO of Climatec.
With its market presence in Canada and key metropolitan areas in the US, Paladin Technologies is an ideal addition to Bosch’s system integration business. For instance, Paladin Technologies is responsible for the design and installation of security systems for Royal Columbian Hospital, enhancing patient experiences, while maintaining the continuity of the hospital services as it is one of only two trauma centers within the province. Further, Paladin Technologies protects the assets of Cargill facilities, an international provider of food, agriculture, financial and industrial products and services. Paladin Technologies serves Cargill across multiple provinces and states. Through Climatec, Bosch implements highly innovative projects across the North American market. For example, The Spiral, a premier office high-rise skyscraper in New York City, which Climatec equipped with an advanced building automation system – a smart and green building offering the highest quality of life for its occupants. Another example is the City of Ontario, California, for which Climatec has implemented significant building modernization and renewable energy systems that saves the city millions in utility and operating costs.