HID Global, a subsidiary of ASSA ABLOY, is on the cusp of acquiring Mercury Security Products from ACRE LLC, the group that owns Vanderbilt Industries and ComNet.Founded in 1992 Mercury Security Products supplies OEM access control hardware, with an installed base of four million control panels worldwide.
HID Global, which was acquired by ASSA ABLOY in 2000, develops “products, services and solutions related to the creation, management and use of secure identities”. Headquartered in Austin, Texas, the company has over 3,200 employees worldwide and operates in more than 100 countries.
Subject to regulatory approval and customary closing conditions, the deal is expected to go through in the final quarter of 2017. Financial terms of the agreement are not being publicly disclosed.
Houlihan Lokey Capital Inc and Raymond James & Associates Inc acted as financial advisors to ACRE and Mercury.
“Divesting Mercury after many years of success since ACRE purchased the business in 2013 is a strategic move that allows ACRE to focus on its core access control, video and intrusion businesses under the Vanderbilt and ComNet brands,” said ACRE CEO Joseph Grillo.
“HID is the perfect home to provide for the continued growth and success of Mercury, which will remain a valued technology supplier to Vanderbilt.”
We caught up with Grillo, who came third in our roll call of the top 10 influencers among security manufacturers/service providers 2017, at IFSEC 2017, where he emphasised that ACRE is still very much in the market for more acquisitions.
ACRE (Access Control Related Enterprises) has acquired several security businesses since it was formed in 2012 by Grillo, including Schlage SMS from Ingersoll Rand in 2012, Mercury itself in 2013, the Security Products Division of Siemens AG in 2014, and Access Control Technology (ACT) and ComNet in 2016.
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