Global Security Leader purchases Hamilton Safe in the US
Livingstone’s Industrial sector team has advised Gunnebo AB on its acquisition of Hamilton Safe Companies, the largest privately-held safe and security products manufacturer for US banks and the US Government. The purchase price was $65 million.
Headquartered in Gothenburg, Sweden, Gunnebo is an international provider of security products and services to a diverse range of customers throughout the world. The Company, which is listed on the Stockholm stock exchange, employs 5,500 people in 31 countries and has revenue in excess of $800 million. Gunnebo focuses its global offering on Bank Security & Cash Handling, Secure Storage, Entrance Control and Security Services.
“Hamilton’s core business is a perfect fit for Gunnebo’s offering, extending our core business within the bank security and security for public administration authorities,” stated Gunnebo’s President & CEO, Per Borgvall. “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.”
“Livingstone was an ideal advisor to Gunnebo on this transaction, providing valuable insight and tactical expertise,” said Tomas Wängberg, Gunnebo’s Senior Vice President of Business Development. “We look forward to pursuing additional global opportunities with Livingstone in the future.”
“Gunnebo joins the growing list of blue chip corporates that we have worked with on both sides of the table and the Atlantic,” commented Livingstone Chicago’s Head of Industrials Andy Isgrig. “Our Global Industrial team is proud to have worked with market leaders like Lafarge, Middleby, ITT Exelis, and Hubbell, among the 27 industrial sector transactions we have closed in 2011 and 2012.”
Patrick Groarke, Livingstone London’s Head of Industrials, concluded “This is the second acquisition where Per Borgvall has turned to Livingstone for our expertise and support on a cross-border deal and we are delighted to have delivered him such a strategically significant deal.”