- Pelco by Schneider Electric, which builds video security camera equipment at its facility in Clovis, California, has been purchased by Los Angeles-based Transom Private Capital in a sale announced.
- March 25 (Reuters) - Schneider Electric:. Pelco is a global specialist in the design, development, and delivery of trusted end-to-end video surveillance solutions and services including cameras.
Summary
Pelco / Schneider Electric - DF8PG1; Speco - SA15RP; Pelco / Schneider Electric - HB1524; Digital Watchdog - DWCMF10M36TIR; Best Sellers. Hubbell - HM17C; Panduit. Pelco by Schneider Electric announces Evolution Mini 360° EVO-05LID Indoor Camera, featuring compact design, easy installation, supreme dewarping technology.
- Pelco complements previous acquisitions of TAC, Andover Controls and Invensys Building Systems as Schneider expands building automation business.
Schneider Electric
Pelco contributes to Schneider Electric’s strategy of growthDavid Mc Donald, President and Chief Executive Officer of Pelco, commented: “Schneider Electric is an ideal partner for Pelco. Both companies share the same commitment to people, innovation and customer service that will make our combined enterprise an even stronger, more competitive player in the industry. We look forward to the unique benefits this partnership will bring to our customers and employees.”Arne Frank, Executive Vice President of Schneider Electric Building Automation business unit, said: “The combination of our companies will create a unique portfolio of products, services and solutions in the building management industry. Pelco’s unique position in IP-based video security represents a tremendous additional organic growth opportunity. With this acquisition, a very important additional step is made to further reinforce our leadership in Open & Integrated solutions for Building IT®.”Jean-Pascal Tricoire, Chief Executive Officer of Schneider Electric, commented: “This acquisition significantly reinforces our building automation business unit. Pelco systems will integrate gradually in our Power and Control solutions for buildings and infrastructure. Security offers a highly attractive growth profile and video is becoming the key application in the building management market.”Transaction OverviewThe price to be paid for Pelco is $1,220 million expressed as an enterprise value on a cash-free debt-free basis. In addition, Schneider Electric will pay to the sellers the net present value of a tax benefit resulting from the step-up of Pelco’s assets, representing $320 million. As a consequence, the total price paid in cash at closing will be $1,540 million. The company had a net debt of roughly $139 million at 30 June 2007.This transaction is expected to be accretive to EPS from year 1 and the ROCE to cover Schneider Electric’s cost of capital in year 3, in accordance with the Group’s acquisition criteria.The transaction is subject to anti-trust and other regulatory approval and is expected to close by October 2007.About PelcoPelco is a world leader in the design, development and manufacture of video security systems and supporting equipment. The company is based in Clovis, US-California and has 2,200 employees worldwide. Its key products include Domes, IP Systems, Digital Video Recorders. It recorded sales of $506 million in 2006, of which 36% outside the US, with an EBITDA of $46 million and an EBITA of $30 million. Schneider Electric: Give the best of the New Electric World to everyone, everywhere, at any timeSchneider Electric is the world’s power and control specialist. It anticipates and satisfies its customers’ requirements in the residential, building, industry and energy and infrastructure markets. With 112,000 employees and operations in 190 countries, Schneider Electric generated sales of €13.7 billion in 2006 through more than 15,000 distributor outlets. Learn MoreDid you enjoy this great article?
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SubscribeTransom Capital Group has acquired Pelco Inc, a provider of video surveillance solutions, from Schneider Electric. No financial terms were disclosed.
PRESS RELEASE
FRESNO, Calif., May 29, 2019 /PRNewswire/ — Transom Capital Group (Transom), a leading operations-focused middle market private equity firm, today announced it has acquired Pelco, Inc. (Pelco), a top provider of video surveillance solutions, from Schneider Electric.
Pelco is a global leader in the design, development, and manufacturing of predictive video security solutions including cameras, recording and management systems, software, and services. Pelco’s personal engagement with customers, resellers and technology partners drives the development and deployment of surveillance and security solutions with meaningful innovation.
Russ Roenick, Managing Partner at Transom Capital Group, said, “As most security industry experts know, Pelco is one of the pioneers of the video surveillance space. The journey toward creating the next great breakthroughs in video security begins today through our investment in Pelco. We have conviction that the work done over the past several years to transform the Company into a digitally-savvy security leader with innovative hardware, software, and service solutions is nearly complete. We are excited to partner with management to grow the business for many years to come.”
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Jean-Marc Theolier, CEO, Pelco, Inc., “As we surveyed the landscape of potential partners, our primary goal was to commit with a company who appreciated Pelco’s legacy, as well as supported our current business strategy and growth plan. Transom strongly believes in our unique value proposition to be an end-to-end solutions provider, and has encouraged us to continue doing what we do best! We are excited to work with Transom, and to develop new and innovative solutions to best serve our business partners.”
Terms of the transaction were not disclosed. Transom was represented by Latham & Watkins as M&A counsel and Perkins Coie as debt finance counsel on this transaction. Wells Fargo provided the debt financing for the transaction. R.W. Baird served as financial advisor to Pelco on this transaction.
About Transom Capital Group
Transom (www.transomcap.com) is a leading operations-focused private equity firm in the middle market with more than $500M in assets under management. The firm’s functional pattern recognition, access to capital, and proven ARMOR Value Creation Process combined with management’s industry expertise to create improved operational efficiency, significant top-line growth, cultural transformation and overall distinctive outcomes. Transom is headquartered in Los Angeles, California.
About Pelco, Inc.
Pelco is a global leader in the design, development, and manufacturing of predictive video security solutions including cameras, recording and management systems, software, and services. From its VideoXpert video management platform to its industry-leading selection of IP cameras and accessories, Pelco is committed to designing and delivering a broad range of high-quality, IP video security products and systems that make the world a safer place.
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Source: https://www.pehub.com/2019/05/transom-acquires-pelco-from-schneider-electric/
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