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Acquisition of Paladin Technologies: Bosch plans to expand its building services business in North America

Bosch Building Technologies division continues its strong growth in services

  • Paladin Technologies is a leading provider of security and life safety solutions as well as system integration services in Canada and the US.
  • This purchase complements Bosch’s 2015 acquisition of Climatec, LLC, with more than 1,000 associates in the US.
  • Paladin Technologies has over 1,500 associates and projected 2023 sales approaching USD 400 million across 35 offices.
  • Bosch Building Technologies expands its system integration business by entering the Canadian market and increasing its US operations.
Dörthe Warnk

Dörthe Warnk >

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Stuttgart, Germany / Vancouver, Canada / Phoenix, United States – Bosch plans to acquire Paladin Technologies, Inc., headquartered in Vancouver, Canada – a leading 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 USD 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.

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 expands its business in North America

“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.

Portfolios of both companies complement each other perfectly

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.

Contact persons for press inquiries:

Bosch:
Dörthe Warnk
Phone: +49 711 811-55508
Mail: doerthe.warnk@de.bosch.com

Climatec:
Jill Boileau
Phone: +1(602) 999-4557
Mail: JillB@Climatec.com

Paladin Technologies:
Stephanie Whalen
Phone: +1(604) 787-5959
Mail: swhalen@paladintechnologies.com

About Energy and Building Technology

The Energy and Building Technology business sector accounted for 4.6 billion euros, or roughly 9 percent, of total Bosch Group sales in 2014. It offers a wide range of products, solutions, and services for heating, hot water, ventilation, air conditioning, security, and building management, power generation, and energy storage. Bosch Energy and Building Technology encompasses the Thermotechnology and Security Systems divisions. The former is a supplier of resource-conserving heating products and hot-water solutions. The latter provides solutions for video surveillance, access control, voice evacuation systems, intrusion control and fire alarm systems, professional audio and conference systems, and services for remote surveillance and business process management. The business sector also includes Bosch Energy and Building Solutions GmbH, which specializes in services designed to improve the energy efficiency of commercial buildings, and Bosch Energy Storage Solutions, a provider of modular energy storage solutions.

The Bosch Group is a leading global supplier of technology and services. It employs roughly 428,000 associates worldwide (as of December 31, 2023). According to preliminary figures, the company generated sales of 91.6 billion euros in 2023. Its operations are divided into four business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 470 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At 136 locations across the globe, Bosch employs some 90,000 associates in research and development, of which roughly 48,000 are software engineers.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com.

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