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 companyÃ¢â‚¬â„¢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 companyÃ¢â‚¬â„¢s president, in the acting chief executive officerÃ¢â‚¬â„¢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 InternationalÃ¢â‚¬â„¢s corporate credit and senior unsecured ratings have been raised to BBB from BBB- by Standard & PoorÃ¢â‚¬â„¢s Rating Services.
The ratings service also raised the companyÃ¢â‚¬â„¢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 companyÃ¢â‚¬â„¢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 OÃ¢â‚¬â„¢Connor, has been with the company for 13 years and most recently served as senior vice president of sales for North America. OÃ¢â‚¬â„¢Connor has been promoted to vice president of global sales for Honeywell Security.