News

ATM ISO Red Hawk sells out for $142 million

September 6, 2006

Rocky Mountain News:Greenwood Village, Colo.-based Red Hawk Industries, a bank-security company and leading ATM independent sales organization, has been acquired by United Technologies Corp. unit UTC Fire & Security for just less than $142 million. The Hartford, Conn.-based company owns Chubb security and Kidde fire brands, and also makes Carrier air conditioners, Otis elevators, and Pratt & Whitney jet engines. United Technologies' had revenue in 2005 hits of $42.7 billion.

Privately held Red Hawk bills itself as a security systems integrator. It installs and maintains ATMs, safes and vaults, drive-up lanes, closed-circuit television systems, alarms and alarm monitoring, access control systems, and safe-deposit boxes, as well as provides temporary facilities for disaster recovery. It operates in 30 states and employs 800 workers. The company, founded in 1999, built itself up to $142 million in sales through 16 acquisitions, the most recent being the January purchase of Denver-based data-security company National Network Services. As recently as 2001, it had just $15 million in sales. It has been listed for the past two years as one of Inc. magazine's fastest-growing companies.

"Red Hawk is a strong player in the financial services segment," Bill Brown, UTC Fire & Security president, told the Associated Press on Sept. 6. "Its ability to deliver integrated security solutions combined with its expertise in ATM placement and maintenance will enable us to provide additional value to our current and future customers."