Bosch has revealed its plans to acquire Paladin Technologies, Inc., a provider of security and life safety solutions and system integration services in North America and headquartered in Vancouver, Canada.

Corresponding agreements were signed by Bosch and Paladin Technologies on 4 July 2023. It has been agreed that the purchase price will not be disclosed.

Building on success

Bosch says that this purchase would complement its 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.

Paladin Technologies currently employs around 1,500 associates across 35 locations in Canada and the US with projected 2023 sales approaching $400 million.

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.

“Energy efficiency and security needs are driving factors for the modernization of commercial buildings, particularly in the North American market,” said Christian Fischer, Deputy Chairman of the Bosch board of management responsible for the company’s Energy and Building Technology and Consumer Goods business sectors.

“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 to make buildings greener, smarter and safer.”

Joining forces

“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,” said Thomas Quante, President of Bosch Building Technologies.

“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.”

“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,” said Ted Reid, CEO of Paladin Technologies.

“We’ve also been impressed by the success of Bosch’s building services growth in the US and look forwards to succeeding together as we build upon our shared values of innovation, teamwork and the development of our people.”