Sielox LLC Acquired - Successful Management Buyout Completed |
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Sielox
170 E. Ninth Avenue
Runnemede, NJ, 08078
USA
Press release date: January 5, 2011
(RUNNEMEDE, NJ - January 5, 2011) Sielox LLC, a leading provider of access control solutions since 1979, has been acquired through a management buyout with additional funding secured from a group of seasoned private investors. Sielox LLC will become a private company under the new management structure. The executive management team will be led by Karen Evans who will be the company's President & CEO. Terms of the deal were not disclosed.
Sielox LLC's new investors include Richard Hoel and a group of established security technology investors with a deep understanding of business management, growth strategies and the access control marketplace. Sielox LLC's customer base, strong business partner channel and technology pipeline were cited as deciding factors in the acquisition, as well as the existence of valuable synergies between Sielox LLC and the existing portfolio of companies.
"This investment in Sielox LLC is a validation of the quality, sustainability and marketability of the solutions we have developed over the years. Becoming a private entity will allow us to allocate more funds into product development and fast track them for delivery to our business partner channel. We are committed to building our sales and business partner channel to ensure our continued success," said Karen Evans.
As part of its sales strategy, Sielox LLC will continue to offer Costar Video Products through its business partner channel and is committed to maintaining and growing its relationship with Costar. The combination of access control and video surveillance products will continue to offer business partners and end-users a complete integrated security solution.
"With the increased emphasis on security in the business climate today, we saw an opportunity to invest in an established company with access control products that are fully integrated with video surveillance products for the security market. We are pleased to have Karen Evans as one of the equity owners and to have Sielox LLC as part of our portfolio of companies," said Richard Hoel, one of the financial backers of the acquisition.
Sielox LLC will continue to operate out of its headquarters location in Runnemede, New Jersey.
About Sielox LLC:
Sielox LLC is a leading provider of integrated access control and video surveillance solutions. Prior to the acquisition, Sielox LLC was the access control division of Sielox Inc. Sielox LLC has been providing access control systems to the security industry since 1979 and was previously a division of Checkpoint Systems, Inc. The Company serves a variety of clients within a broad range of industry sectors: commercial, education, financial, government, library, logistics and retail. Recognizing the security requirements - entry- to enterprise-level - of organizations in today's complex and demanding environments, the Company provides its customers with fully, integrated access control with video surveillance solutions. Sielox LLC's access control solutions are available through an established and continually evolving network of authorized business partners. For more information, visit Sielox LLC's website: www.sielox.com
Sielox LLC Agency Contact:
Glenda Laudisio,
Eight Eleven Inc.
215.595.6625
E-mail: glaudisio@eight-eleven.com
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