Diversifies into the fast growing Security and Surveillance business
Ozone Enterprise Group, an Everstone PE Capital funded company and leading player in the Architectural Hardware industry, announced its acquisition of ‘WallCam,’ a company engaged in security and surveillance business in India. The acquisition will make ‘WallCam’ a fully owned subsidiary of Ozone. The acquisition process, which is in its final stage, will be completed soon. Ozone sees a lot of synergies in the business with its existing business lines, and will accelerate and strengthen WallCam’s model of working through its R&D, manufacturing and re-seller partners.
Ozone has a diversified presence in architectural hardware, safes & vaults, locks, fire & safety doors and urban furniture. The brand is among the top 3 players in safes and locks in the country. The group has been actively exploring options to diversify into new businesses, security and surveillance being one of them.
Talking about its business aspirations, with its aggressive growth and diversification plans, the group is eyeing Rs.1,000Cr turnover by FY 2021. The company plans to invest over Rs.100Cr in next 2 years on diversification primarily on building manufacturing capability for CCTV cameras and other security and surveillance products and IoT in India. Ozone Group already has international tie ups for product and software and are also looking at fresh equity influx to fund expansion in electronic security and surveillance business. A significant amount of this equity influx will be dedicated for a greenfield manufacturing unit for electronic security and surveillance under the ‘Make in India’ initiative of the Government.
“Security and surveillance is one of the fastest growing industry in India. The market size of the industry from the current $1Bn is likely to grow 2.5 to 3 folds by the end of 2021. We have been actively exploring options to diversify into this industry and after contemplating both organic and inorganic options, we finally narrowed down on taking the inorganic route with the WallCam acquisition. We are all geared up to make the most of the market opportunity and will soon be seen as one of the prominent players in the market,” said Mr Aggarwal.
Ozone’s solution centric approach has enabled them to grow from a start-up to becoming India’s most popular architectural hardware solution provider, which has been able to prove its worth in international markets. The company has a global presence across 15 countries, 4 R&D centres in Israel, Korea, China and India, and 4 state-ofthe-art factories in India and China. Ozone offers internationally certified products & solutions through its product portfolio of more than 3000 SKUs across various product categories.
Ozone has strong presence internationally with offices in India, Canada, Australia, Dubai and distributor’s network in Poland and Saudi Arabia.
“The idea behind acquiring WallCam was to give a head-start to our diversification plans, get accesses to WallCam’s existing business, the brand, sales & distribution network. We are excited about this new move as it is in synergy with our growth ambitions and abilities”
– Alok Aggarwal
Founder & Managing Director, Ozone Enterprise Group