In a statement of intent it has been announced that Bosch Building Technologies plans to acquire the privately-owned integrator Protec Fire and Security Group UK with corresponding agreements signed by Bosch and Protec on 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.
Thomas Quante continues: “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.”
Barrie Russell, founder and chairman of Protec Fire and Security Group says: “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.”
