August 2008: The German multinational Siemens sells its Spanish subsidiary, Siemens Building Technologies Security, S.A.U. (“SBTS”), one of the leading alarms and security systems companies in Spain. SBTS has three business lines: (i) Projects, (ii) Services and Maintenance and (iii) Alarm Receiving Centre (with more than 21,000 alarms connected in Spain). With this acquisition Chillida, S.L., which has been a player of the security market for more than 30 years in Valencia, becomes the 4th largest company within the alarm and security systems market in Spain, with more than 40,000 alarms, 300 employees and a significant presence in the banking and retail sectors.
SOCIOS advises Siemens in the identification of potential buyers and in the negotiation and closing of the transaction.
