Jan. 16, 2015: Bosch Acquires Climatec, Strengthening Its Energy and Building Technology Business
Bosch Becomes Single-Source Provider of Energy, Building Automation, and Security Solutions in the US
FARMINGTON HILLS, Mich. — Robert Bosch North America Corp. has acquired Climatec LLC, a leading provider of energy efficiency, building automation, security, and life-safety solutions for the U.S. market. Headquartered in Phoenix, Climatec generated sales of $170 million in 2013. According to preliminary figures, Climatec increased its sales in 2014 to about $190 million dollars. The company employs approximately 670 associates at 12 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 $10 billion (€8 billion) in 2020.”
“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.”
Climatec will operate as a largely independent entity, maintaining its offices in Arizona, California, Nevada, and Texas. Operations will continue to be run by the same management team. Climatec will continue to represent and integrate numerous leading manufacturers’ product lines across its range of services, including Bosch products. As before, the Bosch Security Systems division, Fairport, New York, will continue to sell its security and safety products in the North American market through leading distributors and system integrators.
For more information about Climatec, visit www.climatec.com.
For more information about Bosch, visit www.bosch.com.
Publication date: 1/12/2015