Smith & Wesson gets further into security
SPRINGFIELD, Mass.—After entering the residential security market last year through a licensing agreement with Nationwide Digital Monitoring, Smith & Wesson got more firmly into the commercial security market this week with the acquisition of Universal Safety Response, a systems integrator and manufacturer of perimeter protection solutions. S&W paid up to 9.7 million shares and up to $26.2 million in cash for USR, depending on some performance measures.
USR, based in Franklin, Tenn., began as the creator of the GRAB vehicle safety barrier, but has become a turnkey perimeter security provider and has integrated systems for the defense, transportation and petro-chemical industries, particularly.
According to S&W’s most recent financial statements, this might not be the last acquisition in the security space in the near future. While non-firearm sales only resulted in about $22 million of the company’s $334 million in 2009 revenues, the company reported, “We intend to develop and expand strategic relationships and pursue strategic acquisitions to enhance our ability to offer new products and penetrate new markets.”
Security Systems News continues to report on this story.