Nortek Security & Control, a Californian company specializing in solutions for smart home, security and access control, changes hands. It was won over by Nice from Veneto, which thus strengthens its leadership in the area of smart home, security and home & building automation. The one announced today is the largest investment in the history of Nice which has shelled out 285 million dollars to buy Nortek Security & Control from the English Melrose Industries. Nice expands its portfolio by offering a complete range of integrated solutions for residential, commercial, industrial and government applications, from do-it-yourself installation, to professional and specialized installation with customized products and high safety standards. “With this acquisition, we strengthen our commitment to the North American market and significantly expand our presence on a global scale. Nice now counts on an organization of over 3 thousand people on 5 continents, and is enriched with different skills and cultures, with 16 R&D centers and production plants at the service of our partners and customers in over 100 countries “explains Lauro Buoro, president and founder by Nice. The Venetian company thus positions itself as a one stop supplier of smart solutions. “With a growing product portfolio and additional resources available for the development of new solutions, Nice moves to the next level as the only global interlocutor in offering the most complete ecosystem of integrated products for the home and buildings, opening us to new opportunities of business with artificial intelligence (AI) and digital personal health »adds Roberto Griffa, CEO of Nice.
Nortek Security & Control is a leader in the development of technologies for the security, home automation, control, power, Audio / Video, access control, health and artificial intelligence (AI) sectors, for residential and commercial applications which, once integrated, the company declares by 2023, with Nice’s offer it capitalizes on a complete range of integrated solutions for residential, commercial, industrial and government applications, from do-it-yourself installation, to professional and specialized installation with customized products and high safety standards . In North America, the Nice brand portfolio includes Nice, Abode and HySecurity, with a consolidated offer of systems for the automation of gates, garages, solar shading and smart security. The acquisition, thanks to the combination of the existing distribution channels with those of Nortek Security & Control, increases the coverage and scope of the business. In the future, partners from both companies will benefit from a portfolio of integrated solutions. For the completion of the transaction, Nice was assisted by Rothschild & Co. as Financial advisor; PwC as Financial, Tax and Labor Due Diligence advisor; Raines Feldman LLP as Legal advisor and Bain & Co. as Business advisor. UniCredit SpA, as Sole Global Coordinator, BNP Paribas Succursale Italia, Crédit Agricole Corporate and Investment Bank (Milan branch), Crédit Agricole FriulAdria SpA and Natixis SA Milan branch have fully subscribed the loan, acting together with Banco BPM, in quality of Bookrunner, MLA and Original Lender. Cassa Depositi e Prestiti acted as MLA and Original Lender for the financing. Legance Avvocati Associati acted as Legal advisor for Nice, and Gianni & Origoni for the pool of banks.
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