Move expands presence in North America and solidifies the company’s position as a world leader in Smart Home, Security, and Access Control

Oderzo, TV, Italy- OCTOBER 5, 2021- Nice, a global producer of Smart Home, Security, and Home& Building Automation solutions, announced today it has acquired Nortek Security& Control, LLC from Melrose Industry. Nortek Security& Control is a resulting developer of technology for the safety, home automation, control, power, AV and amusement, access control, health, and artificial intelligence( AI) systems for residential and commercial markets.

With this acquisition and addition of strategic award-winning brands- including 2GIG( r ), ELAN( r ), Linear( r ), MightyMule( r ), Proficient( r ), SpeakerCraft( r ), Gefen( r ), Xantech( r ), Panamax( r ), Furman( r ), numera( r ), and IntelliVision( r)- Nice expands its portfolio to provide a full suite of integrated answers for residential, commercial, industrial, and government clients, from consumer DIY to custom and professionally-installed specialized products and high-security applications.

The move significantly strengthens the presence of Nice in the North American market and doublings its R& D capacity to further accelerate innovation and expansion of platform-based integrated solutions, significantly enlarging the Nice customer base globally in a fast-growing market. The partners of Nice and Nortek Security& Control will experience an enhancement of their current relationships through a larger organization with an even stronger commitment to the channel. Nice is a world corporation with a regional presence to focus on its local markets and partners.

“This acquisition strengthens our strong commitment to North America and significantly expands our world footprint. Nice now employs over 3,000 people across five continents, encompassing the most diverse backgrounds and cultural activities with 16 R& D centers and manufacturing facilities servicing spouses and customers in over 100 countries, ” said Lauro Buoro, Chairman and Founder of Nice.

“We are very excited to join Nice. Nortek Control has built a reputation for delivering innovative and industry-leading platforms to the market. With the addition of the Nice product lines our consolidated organization will now offer one of the broadest and deepest portfolio of disruptive products to the market, ” said Christopher Larocca, President and CEO of Nortek Security& Control.

Founded in the 1960 s as Linear Corporation, Nortek Security& Control has a vast portfolio of products, over 200 patents, and 12 producing brands across security, access control, AV, power handling, smart-alecky home, AI and personal health.

In March, Nortek Security& Control released the 2GIG EDGE Security and Automation Panel with AI and side analytics, winning several industry honors. The new panel for the pro-install security market delivers the industry’s first fasten face recognition touchless disarm. Developed with side processing, the panel’s engineering ensures homeowner’s biometric data remains procure by saving it simply on the panel.

In North America, the portfolio of brands under Nice include Abode, Nice, and HySecurity in addition to well established gate, door, sunshade, and smart security offerings. The acquisition instantly increases reach and scales growing through existing Nice distribution channels and with those of Nortek Security& Control. Collaborator of each organization will experience streamlined communication from one brand to the next and, in time, are available to a broader portfolio of integrated solutions.

Business will be conducted as usual throughout 2022. The North American organization will immediately begin collaborating with the Nortek Security& Control team on blending portfolios and operations to emerge fully integrated in 2023.

The transaction, valued at $ 285 million, is the largest investment to date by Nice.

For this transaction, Nice was advised by Rothschild& Co. as fiscal advisor; PwC as Financial, Tax and Labor Due Diligence advisor; Raines Feldman LLP as legal advisor and Bain& Co. as business advisor.

UniCredit S.p.A. Sole Global Coordinator, BNP Paribas Italian branch, Credit Agricole Corporate and Investment Bank( Milan limb ), Credit Agricole FriulAdria S.p.A. and Natixis S.A. Milan branch have fully underwritten the financing package, acting together with Banco BPM, as Bookrunner, MLA and the Original Lender. Cassa Depositi e Prestiti acted as MLA and Original Lender for the financing.

Legance Avvocati Associati acted as legal advisor for Nice and Gianni& Origoni for the lenders.

About Nice

Established in the early 1990 s, Nice is a global contributing company in the Smart Home, Security, and Home& Building Automation markets with a comprehensive offering of integrated answers for gates, garage doorways, sun shading, parking systems, wireless alarm systems and home security, for residential, commercial, and industrial builds. Nice has launched a strategic plan for expansion and the extension of its product portfolio and connected platforms. Nice remains dedicated to offering a wide range of customizable, user-friendly options for the end user and seeks to strengthen and expand in markets with high growth potential, enhancing and renewing its branding to compete on new market segments. Nice exports its products, which mix technological advances and designing to over 100 countries. For further information, visit www.niceforyou.com

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About Nortek Security& Control

Nortek Security& Control LLC is a global leader in smart connected devices and systems for residential and commercial clients, serving the security, access, AI, health& wellness, control and power/ AV marketplaces. Nortek Security& Control and its partners have deployed more than 5 million connected systems and over 25 million security and home control sensors and peripherals. Through its household of brands, the company designs answers for national telecoms, big-box retailers, OEM collaborators, service providers, merchants, technology integrators and customers. Headquartered in Carlsbad, California, Nortek Security& Control has over 50 years of invention and is dedicated to addressing the lifestyle and business needs of millions of clients every day.

For further information, visit www.nortekcontrol.com.

Contacts

North American Press Contact Caster Communications nice @castercomms. com 401.792.7080 Nice North American Marketing Contact Mark Owen Burson VP, Marketing& Product Management m.burson @niceforyou. com

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