Digital Version of November/December 2014 Print Edition
Access control provider, Sielox, acquired by private investors
Sielox LLC, a 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 and CEO. Terms of the deal were not disclosed.
Sielox LLC’s new owners include Richard Hoel and a group of established security technology investors, who have a deep understanding of business management, growth strategies and the access control marketplace, according to a press release issued by Sielox on Jan. 5 The company’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 investors’ 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,” said Karen Evans. “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,”
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 complete integrated security solutions.
“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,” said Richard Hoel, one of the financial backers of the acquisition. “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.”
Sielox LLC will continue to operate out of its headquarters located in Runnemede, NJ.
Sielox LLC has been providing access control systems to the security industry since 1979 and was previously a division of Checkpoint Systems, Inc.