Comelit conquers the UK with the acquisition of PAC-GDX for a comprehensive offer in the field of security
The Bergamo-based group, a leader in the security and smart building market, adds IP-based access control to its product portfolio, and expects to close 2021 with a 30% increase in revenues over 2020
Bergamo, 9 November 2021 – Comelit Group expands with the acquisition of PAC-GDX, a long-standing leading company in the UK market for IP-based access control, which is part of the British company Stanley Security, owned by the U.S. multinational corporation Stanley Black&Decker. ‘This operation is part of our Group’s development process,’ explains Edoardo Barzasi, Managing Director of Comelit, ‘which involves not only organic growth but also growth through acquisitions in strategic sectors. The aim of this acquisition is to provide professional cutting-edge access control solutions, which will be distributed to markets worldwide.
Our management has put a lot of effort into this acquisition, and this was possible because our company is financially solid. We now have a lot of work ahead of us if we are to harness the full potential of the acquisition. Starting with research and development, with the aim of developing new integrated access control and video door entry solutions. We strive to turn the new Comelit PAC into a competence centre for the entire world of access control in the tertiary sector. We also intend to immediately exploit our global presence in order to export PAC access control solutions to all the countries in which we operate.’
‘It is a strategic move, which is of paramount importance to improve our position in the UK market and in global markets,’ explains Marco Giugnetti, Export Sales Director. ‘Comelit has now concluded this process and is able to offer its customers a full range of possible options related to Security: video door entry, anti-intrusion, fire protection, home automation and, of course, access control systems. ‘In fact, in most European and non-European countries,’ he adds, ‘when we are faced with a new building specification, this service is often requested along with the video door entry system: so far, we have had no choice but to rely on external suppliers to avoid missing out on major opportunities, but from now on we can boast a wide-ranging offer.’
With revenues of over €10 million, PAC-GDX is one of the leading players in the UK, which is one of Europe’s most thriving access control markets: ‘It was a lengthy and complex negotiation process,’ admits Matteo Tiraboschi, Comelit’s Chief Financial Officer, ‘but we were able to achieve our goal: as of 8 November, PAC has become a fully-fledged business unit of Comelit UK. It is a major achievement for the Group in terms of its positioning, which is the result of a thorough research and selection process of potential targets and is in keeping with the company’s growth strategy and its constant focus on maintaining its economic and financial balance.’
The acquisition was carried out through our UK subsidiary, i.e. Comelit UK, which will incorporate PAC and take the name Comelit-PAC. ‘This process brings added value for both companies,’ explains Francesca Boeris, Managing Director of the Comelit UK branch. The investments made also involved our Luton headquarters, and we opened a prestigious centre of excellence in Manchester, where the new Comelit PAC Ltd, which already employs more than 90 people, can grow.’ This is a key foundation on which to continue to build: ‘In Luton,’ Francesca Boeris adds, ‘we are making substantial investments to expand our warehouses and increase our inventory so that we can deliver goods even more quickly and efficiently. Our R&D department will be relocated to the new offices in Manchester, along with product management, technical support and customer care for PAC-GDX.’
This comes in the wake of a year, i.e. 2021, in which the UK has already recorded a 30 per cent increase over last year, with an absolute value of over €21 million: ‘It is a memorable year that will go down in history’,says the head of the newly-established Comelit PAC. With the world changing rapidly around us, Comelit UK has successfully recognised and grasped opportunities in the market. We have joined forces, supporting each other with the aim of improving the service and solutions we offer to our customers. In the meantime, we have continued to be proactive and launch our products by introducing innovations such as Ultra and Secur Hub. All this has allowed us to recover from challenging times by working together as a team, knowing that we are stronger together and have a clear path to follow’.