Tuesday, December 03 15:24:16
Dublin-based building energy management systems group, Cylon Controls, has bought the US Building Automation System (BAS) dealer business of Philips Teletrol Systems for an undisclosed sum.
The deal was struck with Royal Philips Electronics and transforms Cylon's footprint, distribution network and capabilities in the US with the potential to add $10 million to the Irish firm's annual sales.
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 $80million across $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 Dealer Business of Philips Teletrol and supporting its BAS dealer network to supply and install Philips Teletrol and Cylon Building Automation systems and technologies.
Sean Giblin, Founder and Managing Director of Cylon Controls Ltd, said: "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. 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 $10 million in new sales to Cylon in the US."
Cylon has in recent years embarked on a significant global extension programme, which has seen it invest over E11 million in the business and positions the company to more than triple its sales to E30 million by 2016.
Established in 1985 Cylon is an Irish company with headquarters in Clonshaugh County Dublin. The company has had a presence in the US building control systems market for over 15 years and also has offices in the UK, Europe and China, in addition to a network of representatives across Europe, the US, the Middle East, Australasia and Scandinavia.