Gunnebo acquires Hamilton Safe Companies

Gunnebo Security Group (the parent company of Gunnebo India) will acquire Hamilton Safe Companies, US based producer and supplier of physical security products to banks and government. Hamilton Safe Companies was set up in 1967 and it had an annual sale of USD 70 million in 2011. It mainly sells in the US and Canada markets.

Gunnebo's President & CEO, Per Borgvall said, “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 further 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.”