Halma acquires Spanish market leader in elevator emergency telephones
21 November 2017
Halma acquired SETCO S.A. on 10 November 2017. SETCO, trading under the Microkey brand, is the market leader in the highly-regulated Spanish elevator emergency phone market. Microkey is a specialist in elevator emergency telephones, GSM wireless transmission and monitoring systems.
SETCO will continue to operate under its current management team. The business will be part of our elevator safety subsidiary, Avire, within the Infrastructure Safety Sector.
Founded in 1986, SETCO is based in Barcelona. SETCO is highly innovative and its combination of M2M and cloud technologies will be of great benefit to Avire customers, allowing elevator controllers to communicate with the outside world, providing status information and enabling external updates and maintenance of the controllers.
The business has been predominantly focused in Iberia so this acquisition introduces exciting new growth opportunities using Avire’s sales and support channels globally. In addition, the product range from Microkey is complementary to the Avire product portfolio so Avire will be able to provide existing customers with new, innovative products and technologies.
Rob Lewis, Managing Director of Avire, said:
“This is a really exciting time for Avire, Microkey and our customers. With the addition of Microkey’s cutting-edge technology to Avire’s global footprint we have created the clear market leader in terms of size and technology. Not only is this good news for our customers now, but with the increased R&D resource we are expecting even more exciting customer focused products in the near future.”
Andrew Williams, Halma's Chief Executive, commented:
"The acquisition of SETCO accelerates Avire’s development of remote monitoring capability for the elevator market and it also significantly strengthens Avire’s presence in Spain. In addition, SETCO will benefit from access to new geographical markets by capitalising on Avire’s existing sales channels and using Avire’s brand strength”
