Briefs

SSN Staff  - 
Thursday, July 1, 2004

LifeStyle acquires LST of Baltimore
GRAPEVINE, Texas - LifeStyle Innovations has acquired LST Baltimore, its Maryland-based LifeStyle franchise.

The transaction was the first in the company’s newly established business plan. LifeStyle has been looking to acquire existing franchises or companies in the home technology field in high-growth housing markets in an attempt to increase its market share.

The company has been moving towards these objectives since a reorganization in the beginning of 2004 that placed Paul Johnson, the company’s president, in the acting chief executive officer’s chair after it was vacated by Ron Pitcock. The company has also been recovering from a number of unsuccessful transactions - acquiring and then divesting FutureSmart, a structured-wiring manufacturer, and the failed acquisition of systems integrator HomeSync.
Tyco receives marks for good credit
PEMBROKE, Bermuda - Tyco International’s corporate credit and senior unsecured ratings have been raised to BBB from BBB- by Standard & Poor’s Rating Services.

The ratings service also raised the company’s short-term corporate credit and commercial paper ratings to A-2 from A-3.

The driving factors behind the improvements include the divesting of non-core units and using substantial free cash flow to reduce debt. The S&P also noted that the initiatives, particularly notable in the fire and security and electronics divisions, improve the company’s operating performance.
Honeywell names new president of dealer program
SYOSSET, N.Y. - Honeywell has announced that Joe Sausa has been appointed president of the First Alert Professional and Honeywell authorized dealer programs.

Sausa, who succeeds Kevin O’Connor, has been with the company for 13 years and most recently served as senior vice president of sales for North America. O’Connor has been promoted to vice president of global sales for Honeywell Security.