NEW LONDON, Conn. and DANBURY, Conn., Dec. 13, 2016 /PRNewswire/ -- ACRE, LLC, the holding company that owns Vanderbilt Industries, Mercury Security and recently acquired ACT in Ireland, today announced the acquisition of Communication Networks LLC (dba ComNet), a manufacturer of video and data transmission equipment.
The acquisition of ComNet builds on the ACRE family of companies, providing complimentary 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.
ACRE CEO Joe Grillo stated, "In line with our mission, the ComNet acquisition, with their extensive offerings in the communication and data transmission technologies, continues to round out the product portfolio provided by the ACRE family of companies."
Commenting on the acquisition, Andrew Acquarulo Jr, ComNet CEO and President, declared, "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."
The ACRE portfolio consists of global brands that feature proven technologies and long-acclaimed reputations for innovation and a high level of customer service and support. Mercury Security provides innovative OEM hardware for facility security and access control systems. Vanderbilt provides over 2,000 products across traditional access control, intrusion, video and cloud-based access and video systems in 95 countries.
ComNet was founded in 2008 in Danbury, Conn., by an experienced management team that had built similar businesses in the past. ComNet focuses on manufacturing and distributing its specialized communications and networking solutions designed to meet the specific requirements of its targeted vertical markets from its Danbury headquarters and a Leeds, UK facility that supports European and other International resellers.
About ACRE, LLC
ACRE was formed in 2012 by industry veteran Joe Grillo 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.
Kim M Loy, Director of Marketing
Jenna R. Hardie
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/acre-llc-announces-the-acquisition-of-comnet-300377249.html
SOURCE ACRE, LLC