Bosch to Expand Building Services Business in North America

Bosch plans to acquire Paladin Technologies, headquartered in Vancouver, Canada. Paladin is a leading provider of security and life safety solutions and system integration services in North America.

This purchase complements Bosch’s 2015 acquisition of Climatec with more than 1,000 associates in the US. Climatec is part of Bosch Building Technologies and offers energy efficiency, building automation, security, and life safety solutions for the US market.

The US is one of the largest and fastest-growing markets for Bosch Building Technologies. Paladin employs around 1,500 associates across 35 locations in Canada and the US with projected 2023 sales approaching $400 million. The purchase price of Paladin was not disclosed. The acquisition is subject to approval by the relevant regulatory authorities.

“Energy efficiency and security needs are driving factors for the modernization of commercial buildings, particularly in the North American market. These long-term trends have contributed to the growth of our subsidiary Climatec, which has significantly increased its sales and workforce since we acquired them in 2015. We want to continue Bosch’s success in the delivery of these vital services in the region, and helping make buildings greener, smarter, and safer,“ said Christian Fischer, the deputy chairman of the Bosch board of management responsible for the company’s Energy and Building Technology and Consumer Goods business sectors.

“The acquisition of Paladin enables us to significantly expand its system integration business in North America by entering the Canadian market and increasing its US operations. Paladin and Climatec have exciting opportunities to collaborate and bring comprehensive offers to our customers, building upon their respective market positions, strong brands, highly experienced leadership teams, and the tremendous industry expertise of their employees,“ said Thomas Quante, president of Bosch Building Technologies.