Bosch plans acquisition of Vancouver-founded Paladin

Bosch, the Stuttgart-based but global supplier of tech and services, plans to acquire Paladin Technologies. The German juggernaut seeks to add Paladin to its Bosch Building Technologies roster, a group that supplies energy efficiency, building automation, security, and life safety solutions for the U.S. market. Paladin Technologies employs around 1,500 associates across 35 locations in Canada and the U.S. with projected 2023 sales approaching USD $400 million. The purchase price was undisclosed.

“I’ve always respected Bosch’s long-term business focus, its over 100-year reputation for innovation, and its private ownership structure, in which the majority shareholder is a charitable foundation,” said Ted Reid, CEO of Paladin Technologies. “We’ve also been impressed by the success of Bosch’s building services growth in the [U.S.] and look forward to succeeding together as we build upon our shared values of innovation, teamwork, and the development of our people.”

The pair of companies state that each of its portfolios of tech and services are particularly complimentary. Paladin’s current suite is highlighted by its work for Royal Columbian Hospital in New Westminster. Bosch’s previous acquisitions of Cargill and Climatec are currently supporting agriculture and construction, respectively. The addition of Paladin will make this output more holistic.

“The acquisition of Paladin Technologies enables Bosch Building Technologies to significantly expand its system integration business in North America by entering the Canadian market and increasing its U.S. operations,” said Thomas Quante, president of Bosch Building Technologies. “Paladin Technologies 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.”

It’s not the first time that calls have been made across the pond concerning Vancouver-based companies. This one, though, is coming from the opposite direction. Some notable European deals signed by B.C. businesses include Victoria-based Certn’s purchase of the U.K.’s Credence, Trulioo’s buy of Denmark’s HellowFlow, Wishpond’s acquisition of London’s ViralLoops, and BWZ’s deal for Crozdek of the same parish as ViralLoops.