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Member News31st Jan 2024

Proserv, Gilmore to retain commercial links post sale

US Control Devices, owned by HBM Holdings, has bought Gilmore, a sister company of systems control company Proserv. The two were subsidiaries of Oaktree Capital Management but Gilmore was spun off as a separate division in October 2019 to enable Proserv to focus on its core strengths and capabilities.

In anticipation of Proserv and Gilmore continuing to collaborate on future projects, a master purchase agreement has been established to accelerate the smooth and seamless procurement of components and products between both parties.

Gilmore said it was “grateful for the tremendous support we have received from Proserv and its shareholders, as we have developed our business in recent years to take this next key step.”