Honeywell, the parent company of New York-based security products distributor ADI, has purchased European security distribution company Gardiner Groupe Europe.
Gardiner, based in Paris, was formerly a subsidiary of private equity firm Electra Partners Europe.
The acquisition, which is expected to close before the middle of 2006, follows a recent push for ADI market expansion in Europe. That expansion started almost a year ago, and now the ADI distribution channel lists some 34 locations in 14 countries worldwide. By comparison, Gardiner brings 75 branches across 10 countries in Europe.
ADI President Tom Polson said the acquisition will expand ADI's global presence, and he said the acquisition can help the company "improve our efficiencies, broaden our inventory and develop programs that directly benefit our customers."
The terms of the acquisition were not disclosed, and the acquisition is still subject to regulatory review decisions before it can close.
