Gunnebo Security Group acquires Hamilton Safe Companies
Today the Swedish-based Gunnebo Security Group signed an agreement with the main shareholders to acquire all the shares in US’s second largest producer and supplier of physical security products to US banks and government authorities, Hamilton Safe Companies.
The privately owned Hamilton Safe Companies was founded in 1967, has an annual sale of MUSD 70 (2011) and 300 employees split into seven legal entities located in Cincinnati, Ohio, USA. Sales are predominantly made in the US and Canada under the main Hamilton Safe brand, and customers are largely US banks and public administration authorities.
“I am very pleased to welcome the Hamilton Safe Companies and its 300 employees as members of the Gunnebo Security Group,” says Gunnebo’s President and CEO, Per Borgvall. “Hamilton is a profitable, quality business, it’s core business being a perfect fit into Gunnebo’s offering, extending our core business within bank security and security for governmental entities. It also gives us a strong position in the world’s second largest security market.”
“Gunnebo will support Hamilton in growing its business by consulting with the Hamilton dealer network and introducing selected products from our global business portfolio,” says John Haining, CEO Gunnebo North America.
Hamilton’s product portfolio includes UL-certified safes, safe deposit lockers, vaults, vault doors, entrance control systems and point-to-point air transport systems, all produced in its five production units.
“Gunnebo is a strong player on the global security market focusing on banks, the retail trade, CIT-companies and public administration,” says Robert Leslie, President of Hamilton Safe Companies. “Gunnebo has the knowledge and financial power to maintain, grow and develop the business we have built up over the past 45 years. Myself and the rest of Hamilton’s management team is really looking forward to growing the business together with Gunnebo.”
GUNNEBO AB (publ)
For further information, please contact:
Per Borgvall, President & CEO Gunnebo AB, phone +46 10 2095 000, or
John Haining,CEO Gunnebo North America, phone 905-595-4140, or
Karin Wallström, Communication & IR Director Gunnebo AB, phone +46 10 2095 026, or e-mail