CoBe Capital has acquired Stanley Black & Decker’s Italian and Spanish businesses, electronic security solutions providers
CoBe Capital, a global private investment firm, has completed the acquisition of Stanley Security España, S.L. and Stanley Security Italia S.r.l. from Stanley Black & Decker (NYSE:SWK). Terms of the transactions were not disclosed, and the business will be renamed in the near future.
With headquarters in Madrid, Spain and Milan, Italy, the security business is a leading provider of electronic security solutions. With decades of experience in designing and implementing commercial security solutions, the business is a trusted provider of security solutions to the banking, industrial, retail, gas and small business verticals. The security business provides a full range of integrated solutions, including access control, electronic surveillance, fire protection, GPS tracking, intrusion and video surveillance, and additionally supports its customer locally through the business’s System Operation Centers based in Madrid, Spain and Milan, Italy. In total, the Spain and Italy security business employs nearly 700 people across over 35 locations.
CoBe Capital Managing Director, Dr. Henning Walf, said several factors made this an attractive investment opportunity. “The security business is one of the leaders in the industry and the undisputed leading provider of electronic security to the banking industry. With strong customer relationships and state of the art System Operation Centers, the business is well positioned for growth.”
Dr. Knuth Schmidt, CoBe Capital’s Director of European Operations, will work closely with the existing management team at the security business to ensure a seamless transition, as well as strengthen the company’s operational and financial fundamentals.
Neal Cohen, CoBe Capital’s Founder and Managing Director, stated, “We are excited about the prospects for the Spain and Italy security business, and look forward to working with management team to take the next step in the company’s evolution. We have a great deal of operating experience to contribute to the business and we share the company’s commitment to providing world class service to its customers.”
CoBe Capital now owns and operations businesses in Germany, Slovenia, Spain and Italy, in addition to its offices in: Cologne, Germany and Zurich, Switzerland. This is CoBe Capital’s third straight acquisition of a European business unit from a multinational corporation domiciled in the United States – Stanley Black & Decker (NYSE:SWK), Mohawk Industries’ (NYSE: MHK) and Staples (NASDAQ: SPLS).
About the Spain and Italy Security Business
The Spain and Italy security business is a leading provider of electronic commercial security systems. With its history dating back decades, the business is the leader within the banking security industry, and also a trusted provided of security solutions to the industrial, retail, gas and small business verticals. Previously owned by Stanley Black & Decker (NYSE:SWK), the security business has over 35 locations and employs nearly 700 people.
Source: CoBe Capital Press Release