ACRE Acquires RS2, Explains Acquisition Strategy

By: Brian Rhodes, Published on Apr 19, 2019

ACRE continues to buy, now acquiring RS2, just 5 months after buying Open Options.

Acre acquires RS2

One is a small access control manufacturer from Texas, the other is a small access control manufacturer from Indiana.

And ACRE already owns access control manufacturer Vanderbilt.

Why so many?

In this note, we share our findings from speaking with ACRE management and analyze the deal.

ACRE **** ******* ******* *******

*** *******'****** ******* ******** *** ** *** most ********** ******* ** the ****:

“*** *********** ** *** boosts ****’* ********* ** the ****** ******* ****** andprovides ** *** **** **** ** *** ***** in a highly competitive market with **** ********* ***** *** *** **** ****.” [Emphasis Ours]

** ***** ** ****'* brands, ** **** ********* a *** *** **** *******, ** ****** ******* of ******* ****, **** similar ********, ***** *** same ******* ******** ********, *** ********** ********* for *** **** *********.

Regional ***************

**** ***** **** ****'* *** *** ******, *** ********* ***'* market-share ** ********* ** the ******* **, *** was * ****** ** selecting *** ******* ** a *** ***** *** other **** ********** *******************,**** *******, *********.

****** ********* **** ***** none ** *** ****** are ******* ** ********** regions, **********'* ******** (***:******** ******) **** **** ********** centered ** *** **** Coast, *****-***** **** ******* is ********* ** *** South-Central **, *** *******-***** RS2's ******** ***** **** its *****-******* ******.

RS2 ********

***, ***** ** ******* south ** ******** *******, is ** ****** ******* offering ******* ***** ******* based ** ******** ** the **************** **! ********. ***'* ******** ******** of ************* ******** ******, ******* ** ******** ******* partner** *** **** **** as *********, ********, *** Open *******.

*** ***** ************** *** RS2 ** *** *******'* technical *** ***** *******, often ***** ** '**********' and '*******' ** *** ********** Access ********* ******* ** contrast ** ****** **** Lenel *** ***** ***** as *** ** *** worst in ***** **********.

*** ******* ****** ** independent ******* ** ****, after ******** *** *** Indiana-based ********** *** ***********.

*** ****, *** *** *** ****** ******* ******* Profile.

Will ****** ********** *******

**** ********* ** **** that **** ** *** intend ** **** ** RS2 **** ***** ****** brands, *** ******* ******** separate ******** **********. ****** said ***** *** '** plans' ** ******** *** company ** ******* ********* across **********.

** ********* ** ************* with ******* ********* ***** be ******** ** ******** with ***** **** ******, those ***** ** *********** on.

Acre '*** ******* ******* ******* ** ******** *****'

** ***** ****** ** ACRE's ******* *&* ******** was ** ******* *********** access ********* *** ****** them ** * **** access ************ ***** ** rival *** **** ** incumbents ******************* *****.

****** ******** **** ****, stating **** **** ***** to ******** '*********** ****** companies **** ****** ******' using ***** *** ********** brands *** ********.

RS2 ********* *******

** ***** ** *******, Grillo ****** '*** ** similar ** **** ** Open *******', ***** ******* IPVM ******** ~$** *******. In ***** ** ******* headcount, *** ******* ~** people.

***** ***** ******* **** not *****, ****** ********* that *** **** ****** Acre's ******* ******* '***** to $*** *******', ***** was ********* ** ~$*** million ****** *** ******** from ********** ******* ******** ******** Conference ************. **** ****** ***'* revenues ** *** $** - ** ******* *****.

Acre ********* *******

** ***** ** ******** coverage,**** ** ********* '** a ******* ******* *** growing ** ********* [********] industry **********, ********* ***** that *** **** *****'.

*** ******** *** ****** well, ******* ****** *** then ******* *** ******* *** * *********** ******.

**** ******* ** ***, Acre's ***** ****** ***** be ** ****** ****** and **** **** *** company.

** *******'* ***** *******, ****** ****** **** future *&* ******** ** ongoing: 
'**** **** ******** ** look *** ********* ************* to ***** *** ********* with *************, ****** ***********, acquisitions.”

Market ******

** ***** ** *** access ******, *** **** is ******** ** ** significantly ********** ** ****** RS2 ** *********** ** the **** ****.

*******, *** ******** ********* stability ****'* ******* ********, coupled **** * ****** of ***** ********** *** growth *** ******** *** RS2, * *********** ****** company ** * ****** now ****** *** *********** from '****' ******-******** ****** startups **** *************, ********.

****/****

Comments (12)

******* *********: ** ****** control **** ************* ********** than *****? * ** not **** *** ** seems **** ***. *** is ****** *******, ** the **** ******, ***** to *** ************* **** fragmented?

****'* ***** ****** ***** these ****** ** ****** so * ** *** so **** *********** **** but ********* **** (** ever) **** *** ****** control ****** **** ****** having ******** ****** ******* manufacturers.

** **** ***** ** buy****** *********** ** **** **** one ** ****? * am *******, * *****.

* ***** **** *** change ** *****-* ******* common *****. ** ****** control ****** ***** ** receive ******** ******** **** the ******** ** ******* the *********** ****** ** has *********. **** * lot ** ******* *** built ** *** **** board, *** **** ** believe ** *** ** migrated ** ***************.

* ***** **** *** change ** *****-* ******* common *****.

**** ** *** ******* good. * *********** *****'* ******** ************ * *********** *** there *** **** * manufacturers * ***** ***** release: ****, **** ****** and ****.

*******: ***** ******** ******* * for ******

********* **** ** * good ****. *** ** an *********** *******. * have **** * ****** for **** ** *** past *** *** *** one ** *** **** companies * **** **** had ** **** ****, both *** *** **** sales. **** **** * longevity ***** ********* ** well *** **** **** growing *** **** *** years. 

*'* ******** ** **** this **** *** *** Open ******* ****.  ** are **** ******* *******, not ***, *** * do **** * ****** of ***** ***** ** the ***** ****.  * believe **** **** ********* have * **** ***** following *** ** ***** responsiveness *** *** **** of ***** ******** **** both.

*'* * **** ******** that ******* ******* ********* (compared ** *****, ********-****** companies) *** *** ************ do **** ******* *** have ****** ************* **** their ********* ** * result.

* ******** ******* **** Joe ****** ** *** Open ******* ******* ***** at *** ****, *** he ********* **** *** longevity ***** ****** ***** out ** ***.  *** a **-**** *** ******* to **** * **** percentage ** ********* **** have **** ** ***** with *** ******* ** pretty **********.  * ***** expect *** **** ** RS2.

********* **** ****** ** your ******* *********** ****** your ****** *********** **.  Bankroll ***** ******, ***** them **, **** **** them ** * **** premium ** * ****** or *** ************ *** wants ****** *******. 

**** **** ** * high ******* ** * camera ** *** ************ who ***** ****** *******.

***** * ***** **** can ***** **** **, my ******** **: *** don't ***** ***** ********* buy ***** ****** ******* companies ***********? ** ***** words, *** ****'* **** outbid **** ***** ***? I ********* ***'* ****. My **** ***** ** that ***** *** *** fewer ********* ***** ********* vs *** ****** ****** ones ****.

*** ***'* ***** ***** companies *** ***** ****** control ********* ***********? ** other *****, *** ****'* they ****** **** ***** now?

* ***** ** *** be ******** *********. * think **'* ****** ** onboard *** **** ** a *** ******** **** your ******** ***, **** make ** ****, **** most ****** *****. *** travel ** **** *** momentum ***** ****** ********* your *** ********, *** then ****** ** **** in ******* ******* ***** breaking **** ********. ******* talked ***** ******* *****: Pelco *** *********.

** * ***** ******* is ********** ** ** access *******, **** *** just ** ******* ****** to *** *** ****** looking **** * ******* candidate. ****, ******* ** see *** ***** *** stronger *** **** *** pay * ****** ******* for *** ****** ******* later **** ** *** had ****** ** ***, but **** ** **** bought ** *** ****'* still **** ** ****** a *********** ****** ** money ** **** **** business. ** ***'** ********* a *** ****** ***.

* ***'* **** ** I ** ************ ****** in *** **** ***. I'm **** ****** ** make * **** *** one ****** *** * company ***** **** ** buy * ******** ***** vs. ***. **** ***** to **** ** *** who ***** *** ** the *******.

** * ***** ******* is ********** ** ** access *******, **** *** just ** ******* ****** to *** *** ****** looking **** * ******* candidate

* *** *** ***** in ****.

*** **** **** ***** less ***** ** ** is **** **** ***** content ** **** **** company ****** ************. * would ***** **** '*********' acquirers (**** ** ******** video ************) ***** **** an ****** ******* ******** with ***** / ******* market *** **** ***********.

* ***** **** ** the *********** ***** **** Mercury ******** **** **.  It's *** ****** ** spec *** ******* **** Options ** *** (** any ****** ** ******* players) ******* **** *** Mercury ******.  ** **** go *** ** ********, it's *** **** *** a **** ******* *** now ***'* **** ** forklift *** *** ****** system, *** **** **** to ****** *** **** end.  **** *** ** insurance **** * **** way ** ****** ***** companies ****** ****.  ** would ** **** ******* if **** **** ************ hardware.

***'* ******** ** ******* starting ** **** *****.  It *** ****** ***********, which * ** ****, knowing ***, *** *** intention.  ****** ******* **** his ***** ** ****** both * ******** ************ and ******* ******** *********.  Dropping ******* *** * nice ****** (*******) *** gives *** *** ******* from ******** ** ********.

** ** ******* **** company ** * **********, merging ******* ******** ******** is ****** * ********* gamble, ** * ********* in ******** **** *** (Schlage ***********) *** ******** Computers, ***** ********* ** Honeywell ******.  ************* ******* cultures, *******, *** ******* lines.  *** ** ******, but ** *********, * left **** ********, *** managed *** ****** *******.  It ****** ****** **** trying ** **** *** overrun *** *****.

***'* ******* **** ** to **** *** *** businesses, ***** **** *** major *******.  ** **** compete *** *** ****-***** until *** ********* *** other, ********** ** *** death?  ** ** **** combine *********** ********* *** develop * ******* **** base **** ********* **** and *****?

*** *** ******* *** successful ** **** ******, buying ********, ********, ****** Knight, *** ****** ******, and ******* ***** ***** alive *** *******.  **** market ***** *****, **** 7 ******** ** **** Cola.  ** ***** ** history ** ******** *** equal ******* ************.

***'* ********* ** ** make *** *** ************ feel ***** , ** at ***** ****** * shot ** *** ******* capital ********* ** ****.  Since *** ** *** acquisitions *** ********** *******, this **** ** ** interesting ******** ** ***** unfold.

* **** *** **** of **** *** **** to *** * ***-**** holding ******* ** ************ correctly.

******** ******* *** * nice ****** (*******)

*******, ****** ******** **** in **** *****, ******* it * '****** **** return *** *** *** shareholders':

****'* * *********** **********, thanks *** *******:

*** *** ******* *** successful ** **** ******, buying ********, ********, ****** Knight, *** ****** ******, and ******* ***** ***** alive *** *******. **** market ***** *****, **** 7 ******** ** **** Cola. ** ***** ** history ** ******** *** equal ******* ************.

 

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