Belden’s GarrettCom purchase expands smart grid offerings
Belden Inc. completed its acquisition of GarrettCom on Dec. 6, 2010, in a transaction worth $52 million. The move strengthens Belden’s wireless offerings, especially at power utilities, with technologies for the smart grid, including industrial grade switches, routers, converters, serial communications, and security software. Since the acquisition GarrettCom and Belden have exchanged best practices in lean, R+D and innovation, and market delivery systems.
Frank Madren remains as president of GarrettCom, which is operating as a wholly owned subsidiary, adding about 150 employees to Belden’s approximately 6,500.
Mike Miclot, vice president-marketing of Belden’s Industrial Solutions Division, Americas, noted that the move continues Belden’s growth by acquisition in recent years, which has included Hirschmann and Thomas and Betts Communications Products Business. Belden designs and manufactures signal transmission solutions for enterprise, industrial, wireless networking, and specialty markets, without much overlap with GarrettCom offerings, Miclot said.
GarrettCom’s focus has been specialized vertical markets requiring premium hardened communication devices, such as power utilities, industrial security and surveillance, traffic, and transportation; the Hirschmann brand focuses on factory and process automation markets, particularly automotive, food and beverage, oil and gas, and pharmaceuticals.
John Stroup, Belden president and chief executive officer, noted, “GarrettCom provides an excellent platform for Belden to partner with power utilities as they upgrade and automate their transmission and distribution infrastructure.”
Belden is based in St. Louis, MO; GarrettCom retains its base of operations in Fremont, CA.