Pelco's headquarters in Fresno. Photo by David Castellon
Written by Gabriel Dillard
A Los Angeles-based private equity group announced it has acquired Pelco, Inc. from French firm Schneider Electric.
The terms of the transaction for the video surveillance system manufacturer were not disclosed.
The company had been put up for sale more than once in the last several years, according to published reports.
The company last changed hands in 2007, when David McDonald sold it to Schneider Electric for a reported $1.54 billion.
“Russ Roenick, managing partner at Transom Capital Group, said in a written statement: “As most security industry experts know, Pelco is one of the pioneers of the video surveillance space. The journey toward creating the next great breakthroughs in video security begins today through our investment in Pelco. We have conviction that the work done over the past several years to transform the Company into a digitally-savvy security leader with innovative hardware, software, and service solutions is nearly complete. We are excited to partner with management to grow the business for many years to come.”
Transom bills itself as a “leading operations-focused private equity firm in the middle market with more than $500M in assets under management.”
Jean-Marc Theolier, CEO of Pelco, Inc., stated: “As we surveyed the landscape of potential partners, our primary goal was to commit with a company who appreciated Pelco’s legacy, as well as supported our current business strategy and growth plan. Transom strongly believes in our unique value proposition to be an end-to-end solutions provider, and has encouraged us to continue doing what we do best! We are excited to work with Transom, and to develop new and innovative solutions to best serve our business partners.”
Under Schneider Electric, Pelco moved some of its operations from its longtime Clovis home to Fresno and laid off hundreds of staff. At its peak, the manufacturer employed about 1,800 people. According to recent City of Clovis data, that number is closer to 400 personnel.