SecurityWorldMarket

07/10/2021

Nice gains strength in US with $285M Nortek acquisition

Oderzo, Italy

Nice, a global manufacturer of smart home, security, and home & building automation solutions, has acquired Nortek Security & Control, LLC from Melrose Industries. Nortek Security & Control is a leading developer of technology for security, home automation, control, power, AV and entertainment, access control, health, and artificial intelligence (AI) systems for residential and commercial markets.

With this acquisition and addition of strategic award-winning brands Nice expands its portfolio to provide a full suite of integrated solutions for residential, commercial, industrial, and government customers, from consumer DIY to custom and professionally-installed specialised products and high-security applications.

The move substantially strengthens the presence of Nice in the North American market and doubles its R&D capacity to further accelerate innovation and expansion of platform-based integrated solutions, considerably enlarging the Nice customer base globally in a fast-growing market. The partners of Nice and Nortek Security & Control will experience an enhancement of their current relationships through a larger organisation with an even stronger commitment to the channel. Nice is a global company with a regional presence to focus on its local markets and partners.

“This acquisition reinforces our strong commitment to North America and significantly expands our global footprint. Nice now employs over 3,000 people across five continents, encompassing the most diverse backgrounds and cultures with 16 R&D centres and manufacturing facilities servicing partners and customers in over 100 countries,” said Lauro Buoro, Chairman and Founder of Nice.

“We are very excited to join Nice. Nortek Control has built a reputation for delivering innovative and industry-leading platforms to the market. With the addition of the Nice product lines our consolidated organisation will now offer one of the broadest and deepest portfolio of disruptive products to the market,” said Christopher Larocca, President and CEO of Nortek Security & Control.

In North America, the portfolio of brands under Nice include Abode, Nice, and Hysecurity in addition to well established gate, door, sunshade, and smart security offerings. The acquisition instantly increases reach and scales growth through existing Nice distribution channels and with those of Nortek Security & Control. Partners of each organisation will experience streamlined communication from one brand to the next and, in time, will have access to a broader portfolio of integrated solutions.

Business will be conducted as usual throughout 2022. The North American organisation will immediately begin collaborating with the Nortek Security & Control team on blending portfolios and operations to emerge fully integrated in 2023.


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