ACRE LLC acquires ComNet

NEW LONDON and DANBURY, Conn.—ACRE LLC, the holding company that owns Vanderbilt Industries, Mercury Security and recently acquired ACT in Ireland, announced this week the acquisition of Communication Networks LLC (ComNet), a manufacturer of video and data transmission equipment based in Danbury, Conn.

“We saw the opportunity to acquire a unique property that has very specialized products that was growing and profitable,” ACRE CEO Joe Grillo told Security Systems News. “A large part of its market is providing the telecommunication equipment for video surveillance or intelligent traffic systems, or ITS, that are related to transmitting video signals. What we really liked about the company was its breadth of products across all manner of communication types.”

Grillo said that the acquisition of ComNet builds on the ACRE family of companies, providing complementary communication technologies utilized across its access control, intrusion, video and cloud-based product ranges. ComNet offers a broad line of fiber optic, copper and wireless video and data transmission equipment that is designed to meet the needs of security and surveillance in the intelligent transportation systems, utility and industrial markets.

“ComNet is excited to join the ACRE group and recognizes the strength it will bring to the brand and the synergies that are immediately apparent with the other ACRE companies,” Andrew Acquarulo, Jr., ComNet CEO and president, said in the announcement.

Grillo formed ACRE in 2012 as a platform to consolidate acquisitions in the electronic security industry. Prior to ComNet, ACRE acquired the Schlage SMS business from Ingersoll Rand in 2012, followed by the 2013 acquisition of Mercury Security, the 2015 purchase of the Security Products Division of Siemens AG and the acquisition of Dublin-based ACT in November.

“For 2017, we still have some integration work to do at the Vanderbilt level if you look at the recent ACT acquisition in November and the Siemens acquisition last year,” said Grillo. “We still have work to do to integrate the product lines, the organizations and infrastructure, so that will be an ongoing process, and we will look at the synergies that might present themselves across the different business units.”

As the company works through these integrations, Grillo said the goal is “to continue to grow and improve our overall financial performance and do a great job for our customers.”