Access Control Provider Sielox To Be Acquired, Will Become Private
Sielox LLC, a provider of access control solutions since 1979, has been acquired through a management buyout with additional funding secured from a group of seasoned private investors.
Sielox LLC will become a private company under the new management structure. The executive management team will be led by Karen Evans who will be the company’s president and CEO. Terms of the deal were not disclosed.
Sielox LLC’s new investors include Richard Hoel and a group of established security technology investors with a deep understanding of business management, growth strategies and the access control marketplace. Sielox LLC’s customer base, strong business partner channel and technology pipeline were cited as deciding factors in the acquisition, as well as the existence of valuable synergies between Sielox LLC and the existing portfolio of companies.
“This investment in Sielox LLC is a validation of the quality, sustainability and marketability of the solutions we have developed over the years,” Evans said. “Becoming a private entity will allow us to allocate more funds into product development and fast track them for delivery to our business partner channel. We are committed to building our sales and business partner channel to ensure our continued success.”
As part of its sales strategy, Sielox LLC will continue to offer Costar Video Products through its business partner channel and is committed to maintaining and growing its relationship with Costar.