Royce Biomedical Inc. has acquired British Columbia-based Smart-Tek Communications (SCI), an integrator, design and installation firm for security systems including CCTV, access control, sensor and communications systems,
Smart-Tek (www.smart-tek.com), which has been in business since 1997, has made a core business as a security and low-voltage provider in the Greater Vancouver areas. The company has stated that it is currently serving 45 percent of the new construction in Vancouver's downtown district.
"The completion of the acquisition of SCI will now allow Royce to implement its revised business plan geared towards security, surveillance and related industry sectors," said Donald Gee, CEO of Royce, in a prepared statement. "In due course, Royce will change its name to more accurately reflect the new business strategy."
Perry Law, President of SCI commented, "We have worked tirelessly for nearly a decade to position ourselves as leaders in the integrated security and communications industry in our marketplace. Through these efforts, the employment of innovative technology and our reputation for on time completion of projects, we have amassed a stellar list of clients which we are proud to service."
With a large customer base and many current accounts, Smart-Tek Communications is well positioned for a strong 2005.
"With over 20 hi-rise projects comprising approximately 2,500 units, and an additional 6 commercial and government projects all currently booked and under construction, SCI could potentially post a record year in profitability, and revenues in the range of $6-7 million are not unimaginable based on current trends we are seeing," said Perry Law, the president of SCI in a statement to the press.
The financial specifics of the acquisition were not released.