ACRE Announces the Sale of Mercury Security Products
In a strategic move, ACRE divests of Mercury Security Products to HID Global
Access Control Related Enterprises, LLC (ACRE), owner of Vanderbilt and ComNet, has announced the sale of Mercury Security Products (Mercury) to HID Global (HID), a subsidiary of Assa Abloy, AB.
ACRE CEO Joseph Grillo stated, “Divesting Mercury after many years of success since ACRE purchased the business in 2013 is a strategic move that allows ACRE to focus on its core Access Control, Video and Intrusion businesses under the Vanderbilt and Comnet brands. HID is the perfect home to provide for the continued growth and success of Mercury, which will remain a valued technology supplier to Vanderbilt.”
The ACRE portfolio consists of global brands with proven technologies, a long acclaimed reputation for innovation and a high level of customer service and support. Vanderbilt provides over 2,000 products across access control, intrusion, video and cloud-based access and video systems in 95 countries. ComNet offers a broad line of fiber optic, copper, and wireless video and data transmission equipment designed for security and surveillance applications in intelligent transportation systems, utility and industrial markets.
HID’s acquisition of Mercury Security is subject to regulatory approval and customary closing conditions. It is expected to close in Q4 2017. Financial terms of the agreement are not being publicly disclosed. Houlihan Lokey Capital, Inc. and Raymond James & Associates, Inc. acted as financial advisors to ACRE and Mercury.