Bosch Building Technologies plans to acquire Protec Fire and Security Group Ltd., with both agreements being signed today (October 22, 2021).
Protec employs around 1,100 employees at its nine European locations in the UK and the Netherlands and generated sales of GBP 125 million (around 142 million Euro) in the fiscal year 2021 according to preliminary figures. “With the acquisition of Protec, Bosch Building Technologies aims to expand its business and grow further in the European market,” says Thomas Quante, president of Bosch Building Technologies. It has been agreed that the purchase price will not be disclosed. The acquisition is subject to approval by the relevant antitrust authorities.
“With its market presence in the UK, Protec is an ideal complement for Bosch Building Technologies. Together, we want to continue to expand the business, building on Protec’s strong brand with an innovative product and service offering, the highly experienced management that is committed to the company, and the employees who have in-depth industry knowledge and a high level of customer service”, explains Quante.
“With Bosch, we found a great partner who values our history, brand and our extraordinary team. I believe this cooperation will open up great opportunities for our company as well as our employees and lead into a successful future,” says Barrie Russell, founder and chairman of Protec Fire and Security Group Ltd. The company’s services and products are used in numerous sectors, for example in industry, airports and railway stations.
Alongside the UK, the Netherlands is another important market for Protec, accounting for the largest share of its overseas sales. Here, the company is mainly active under the brand Hacousto Protec. “In the Dutch market, Protec and its complementary customer and competence structure is an excellent expansion of Bosch Building Technologies’ current business. The acquisition will significantly strengthen our joint market position in the security and fire detection technology sector, create a broader service offering for our customers and expand the product portfolio in the Security & Life Safety area,” adds Quante.
