Irish building energy management systems company Cylon Controls has acquired Dutch electronics giant Philips’ US-based building automation system company Teletrol. The deal has the potential to boost Cylon’s revenues by US$10m per year.
Under the deal, Cylon’s North American subsidiary Cylon Energy has acquired the customer base of 50 US dealers with a controller install base of US$80m across US$5bn worth of building construction projects.
The deal follows a successful partnership which Cylon entered with Teletrol in 2012, allowing the Irish company to take over the management of the building automation system (BAS) dealer business of Philips Teletrol and supporting its BAS dealer network to supply and install Philips Teletrol and Cylon Building Automation systems and technologies.
Strategy
“This is a significant milestone in our strategy to expand Cylon’s presence in North America, which will considerably grow our US business and expand the availability of Cylon leading building energy-efficiency technology to US building owners,” Cylon’s founder and managing director Sean Giblin said.
“We’ve had an excellent relationship with Philips Teletrol for a number of years and are delighted to reach this agreement with them which we anticipate will deliver approximately US$10m in new sales to Cylon in the US.”
Clonshaugh-based Cylon was established in 1985 and has offices in Europe, the US, the Middle East and Asia.
Cylon has in recent years embarked on a significant global extension programme, which has seen it invest more than €11m in the business and positions the company to more than triple its sales to €30m by 2016.