Gunnebo buys Hamilton Safe Companies
2012-08-14Gunnebo Security Group (the parent company of Gunnebo India) has signed an agreement with the main shareholders to acquire all the shares with the US’s producer and supplier of physical security products to Banks and Government, Hamilton Safe Companies.
Per Borgvall, President & CEO, Gunnebo said, “The acquisition of Hamilton is very much in line with Gunnebo’s strategic agenda. First of all, Hamilton is a quality business with an EBIT-margin above Gunnebo’s financial targets. The acquisition is expected to make a positive contribution to Gunnebo’s earnings before interest and tax, as well as a marginal positive impact on earnings per share, for 2012.”
Per Borgvall added, “Moreover, Hamilton’s core business is a perfect fit for Gunnebo’s offering, extending our core business within bank security and security for public administration authorities. The acquisition also gives us a strong position in the world’s second largest security market. We see great opportunities to develop the business by introducing a selection of solutions from Gunnebo’s global business portfolio to the US market.”
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