Access Control Related Enterprises (ACRE), owner of Vanderbilt and ComNet has announced the sale of Mercury Security Products to HID Global, a subsidiary of Assa Abloy.
ACRE CEO Joseph Grillo stated, “Divesting Mercury Security 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. HID is the perfect home to provide for the continued growth and success of Mercury Security, which will remain a valued technology supplier to Vanderbilt.”
Johan Molin, President and CEO of Assa Abloy said: “Mercury Security is a strategic technological addition to the Assa Abloy Group. The company reinforces our current offering, where Mercury Security considerably enhances the Group´s position within physical access control and will provide complementary growth opportunities.”
“The acquisition of Mercury Security will advance HID’s global leadership in the physical access control industry, adding Mercury Security’s high-quality controllers to HID’s product portfolio while extending HID’s installed base of millions of users beyond the readers and smart cards that we are already well known for,” says Stefan Widing, President and CEO of HID Global.
HID’s acquisition of Mercury Security is subject to regulatory approval and customary closing conditions. It is expected to close in Q4 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.
