Gunnebo Safe Storage today took the next step towards establishing a stand-alone high-security locksbusiness with the acquisition of Tecnosicurezza, a leading manufacturer of electronic locking systems forsafes, vaults, and ATMs.
Tecnosicurezza is based in Verona, northern Italy, and has subsidiaries in the USA and Spain and is one ofthe leading manufacturers in this industry globally. Founded by Franco Miller over 40 years ago, he devotedhimself to products development, international presence and always continually investing in people. Tenyears ago, he successfully promoted a generational transition to his daughter Anna, who was appointed asCEO from 2014.
“GSS has a strategic goal to establish a standalone high-security locks business, delivering value bydifferentiating and leading change in the locks market with a complete offering to the high-security lockseco-system,” says Andrew Willdig, VP of Global Customers, Gunnebo Safe Storage.
“By focusing on the needs of our customers and supporting their daily operational processes, with anemphasis on connectivity, this high-security lock business will increase our support to them along the end-to-end value chain.”
The acquisition of Tecnosicurezza will enable the creation of synergies across the existing portfolio of GSSlocks, as well as across the safes and vaults business, by leveraging technology and customer service,combined with Gunnebo’s digital expertise.
Anna Miller, Tecnosicurezza Managing Director, who has been part of the business for over 20 years, says:“This is an incredible opportunity to scale the availability of our class-leading locks range into over 100markets. Gunnebo Safe Storage’s complimentary expertise and shared focus on innovation and sustainabilitymake this the perfect next step in our company’s journey.”
Tecnosicurezza founder Franco Miller added: “I am proud and honoured Gunnebo chose Tecnosicurezza todevelop such an interesting project.”
Anna and the Tecnosicurezza team bring a strong commercial platform, manufacturing capabilities, acomplete locks product family, as well as a great reputation in the market as a high-quality supplier.
“The locks market is moving fast towards connectivity, and Tecnosicurezza together with Gunnebo SafeStorage will form a strong base on which to build our next-generation locks and Safe Storage Solutions.” saysStefan Syrén, Gunnebo Group President & CEO.
“I am delighted that Anna will continue to lead Tecnosicurezza as Managing Director and along with Andrewwill ensure that Tecnosicurezza moves from being an important strategic supplier to joining the Gunnebofamily. The creation of this standalone business unit will benefit both parties’ existing and new customers.”
ADVEST – Financial Advisory with partners Gianni F. Papa and Pietro Boiardi acted as financial advisor ofMiller family in their sale to Gunnebo Safe Storage and Miccinesi Tax Legal Corporate acted as tax & legalconsultant with Marco Allena, Mattia Ferrero and Alberta Maria Baggio.