CoBe Capital acquires Stanley Security España and Stanley Security Italia from Stanley Black & Decker (NYSE: SWK)
Madrid, Spain – CoBe Capital, a global private investment firm, today announced it has completed the acquisition of Stanley Security España, S.L. and Stanley Security Italia S.r.l. from Stanley Black & Decker (NYSE:SWK). The businesses have been renamed Techco Seguridad and Techco Security (collectively referred to as "Techco Security"). Terms of the transactions were not disclosed.
Techco Security, with headquarters in Madrid, Spain and Milan, Italy, is a leading provider of electronic security solutions. With decades of experience in designing and implementing commercial security solutions, Techco Security is a trusted provider of security solutions to the banking, industrial, retail, gas and small business verticals. Techco Security provides a full range of integrated solutions, including access control, electronic surveillance, fire protection, GPS tracking, intrusion and video surveillance, and additionally supports its customer locally through the business’s System Operation Centers based in Madrid, Spain and Milan, Italy. In total, Techco Security employs nearly 700 people across over 35 locations.
CoBe Capital Managing Director, Dr. Henning Walf, said several factors made Techco Security an attractive investment opportunity. "Techco Security is one of the leaders in the industry and the undisputed leading provider of electronic security to the banking industry. With strong customer relationships and state of the art System Operation Centers, Techco Security is well positioned for growth."
Dr. Knuth Schmidt, CoBe Capital's Director of European Operations, will work closely with the management team at Techco Security to ensure a seamless transition, as well as strengthen the company’s operational and financial fundamentals.
Neal Cohen, CoBe Capital's Founder and Managing Director, stated, “We are excited about the prospects for Techco Security, and look forward to working with management team to take the next step in the company’s evolution. We have a great deal of operating experience to contribute to the business and we share the company’s commitment to providing world class service to its customers.”
This is CoBe Capital’s third straight acquisition of a European business unit from a multinational corporation domiciled in the United States - Stanley Black & Decker (NYSE:SWK), Mohawk Industries' (NYSE: MHK) and Staples (NASDAQ: SPLS). CoBe Capital now owns and operations businesses in Germany, Slovenia, Spain and Italy, in addition to its offices in: Cologne, Germany and Zurich, Switzerland.
About Techco Security
Techco Security is a leading provider of electronic commercial security systems. With its history dating back decades, Techco Security is the leader within the banking security industry, and also a trusted provided of security solutions to the industrial, retail, gas and small business verticals. Previously owned by Stanley Black & Decker (NYSE:SWK), Techco Security has over 35 locations and employs nearly 700 people.
About CoBe Capital
CoBe Capital, a global private investment firm with a permanent capital base, specializes in the acquisition and operation of non-core and underperforming business units in the Americas and Europe from leading global corporations. CoBe Capital owns and operates a diversified portfolio of companies and strives to achieve long-term growth based on lean management and continuous improvement business philosophies. CoBe Capital was founded by Neal Cohen in 1994. For more information on CoBe Capital, please visit cobecapital.com.