The privately owned Hamilton Safe Companies was founded in 1967, and has an annual sale of USD 70 million (2011). Hamilton has 300 employees split into seven legal entities located in Cincinnati, Ohio, USA. Sales are predominantly made in the US and Canada under the main Hamilton Safe brand, and customers are largely US banks and public administration authorities.

“The acquisition of Hamilton is very much in line with Gunnebo’s strategic agenda,” says Gunnebo’s President & CEO, Per Borgvall. “First of all, 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.”

Further commenting on the acquisition Per Borgvall said, “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.”

Hamilton’s product portfolio includes safes, safe deposit lockers, vaults, vault doors, entrance control systems and point-to-point air transport systems, all produced in Hamilton’s five production units. Sales are predominantly carried out through a well-developed nationwide network of distributors. The purchase price is USD 65 million on a debt and cash free basis. Hamilton Safe Companies will be consolidated into Gunnebo’s Business Area, Bank Security & Cash Handling.

An interview with Per Borgvall commenting on the acquisition is attached to this press release:

Over 250 guests attended the event, including Gu Jie, Chairman and President of Jiebao King, Nicholas Roberts, Director of Business Development, Chris Dai, Country Manager of Gunnebo China, and representatives from the government, the security industry association, the media and sub-dealers from all over China.

The meeting started with an official ceremony between Jiebao King and Gunnebo China, which was followed by speeches from VIP guests, a product presentation, a demonstration of burglary-resistance and finally product training. The guests showed great interest in Chubbsafes products, and the demonstration displayed how Chubbsafes offers a security level a lot higher than the mainstream safes on the Chinese market. The guests were confident in Chubbsafes’ potential and expressed the intent to promote Chubbsafes products to the market.

“After 20 years’ development, Jiebao King has now become a leading company in the China safe industry. It will be win-win cooperation between Jiebao King and Gunnebo. “We believe, through effectively integrating the resources of both parties, we can fully utilize our advantages in the physical security market and meet the requirements from different customers. It will bring business success to both companies, and take Jiebao King to a new level,” said Gu Jie, Chairman and President of Jiebao King.

“China has become an important security market in the world. As a company with a more than 200-year history in the security industry, Gunnebo would like to introduce its expertise and experience to the Chinese market, serve its customers and create added value for them. Chubbsafes, founded in 1818, is one of the most well-known safe brands in the world and has witnessed the development and evolution of the worldwide safe industry. It is our honour to announce the partnership with Jiebao King and I believe it is a very good start to launching Chubbsafes into China. With the nationwide channels of Jiebao King, we can provide European graded safes to Chinese customers and fulfill the requirements of the high to premium market segment. We believe the launch will also elevate the safe industry in China,” said Chris Dai, Country Manager of Gunnebo China.

Gunnebo China has received its first order from Jiebao King worth KEUR 100. The products will be distributed to shops in July 2012. All the safes being launched in China have passed the CCC certification B2 level (EN 1143-1 Grade I & II ), B3 level (EN 1143-1 Grade III, IV, V) or A2 level (EN 14450 S2).

Düsseldorf, 29 September 2011. Droege Capital GmbH, a subsidiary of the Düsseldorf-based and family-owned company Droege International Group AG, incorporated its Format Tresorbau participation into Dutech, which is listed on the Singapore stock exchange and whose major shareholder is the well-known family Liu. Droege Group is now a substantial shareholder of the listed company and receives two seats on the Board of Directors. Walter P. J. Droege and Christoph Hartmann will sit on the board. Dutech is the holding company of Shanghai-based Tri Star Group.

Following approval the merger was completed on 29 September 2011. Upon the conclusion of the transaction Format Tresorbau entered into a strategic partnership with Tri Star Group, the leading high security products manufacturer in Asia. Both corporations join forces to pursue the following goals:

• Expand global customer service
• Expand production sites world-wide
• Leverage economies of scale in purchasing and development
• Tap additional potential in new markets

Walter P. J. Droege stated that the association with Tri Star represented an essential step in the regional diversification of Droege International Group AG (Advisory & Capital) in the Asian growth region. “The close collaboration with our Chinese partners will allow us to enhance our position in an important growth market.”

About Dutech

Dutech Holdings Limited (Dutech) is a Singapore-based investment holding company. The Company and its subsidiaries is engaged in manufacturing of high security products. Its UL- and CEN-certified products include automated teller machine (ATM) safes, banking safes, commercial safes and cash handling systems. It also designs and manufactures precision engineering products for semiconductor and automotive industries. Dutech operates in two segments: High Security Products and Semiconductors. High Security Products is engaged in designing and manufacturing of ATM safes, fire-resistant commercial safes and safes for storage of weapons. The Semiconductors segment is engaged in designing and manufacturing of semi-conductor instruments and parts and precision machining parts. Its subsidiaries include Tri Star Technology Co. Ltd, Jiangsu Tri Star Technology Co., Ltd and Tri Star GmbH. On October 1, 2011, it acquired Format Tresorbau Beteiligungs-GmbH and its subsidiaries (Format Group).

“The merger with Corporate Safe expands both company’s capabilities on a global scale,” said Philip Bradney, President & CEO of Fire King. “The two companies have long been recognized as premier manufacturers and service providers of security, safety and asset protection solutions. This enables both businesses to offer a more comprehensive product and service solution for customers.”

“This combination creates the nation’s premier cash security firm,” said Edward McGunn, President & CEO of Corporate Safe. “We are looking forward to partnering with Fire King to continue to provide the innovative products and solutions that our customers have come to expect.”

Scott Finegan, Managing Director at Pfingsten, noted, “Corporate Safe and Fire King unite two industry leaders to capitalize on the high growth potential we see with intelligent safes and services and accelerate each company’s business model. We are excited to be in a position to better serve this dynamic market.”

Fire King is a global manufacturer and national service provider of security, safety and asset protection products. Products include fire and impact-resistant file cabinets and safes, traditional and intelligent safes and digital video security systems. The company sells its branded and private-label products and services to a variety of retail end-users, commercial end-users and mass merchandisers.

Burg Wachter are Germany’s largest physical security manufacturer and they have factories in Germany, Romania and China. They have a well-earned reputation for high quality products coupled with innovative features and design. Along with the fast, efficient delivery and after sales service offered by Burton Safes this should be a truly winning combination

About Burton Safes

Burton Safes is a leading supplier of safes in the UK and Ireland. Burton Safes  supply safes suitable for domestic, commercial and hotel use. Burton Safes  aim to offer high quality products coupled with friendly, efficient service.

A privately owned business; Burton Safes was founded in 1990 near Huddersfield, West Yorkshire. Initially supplying safes for churches, our range grew to include underfloor, wall and small freestanding safes for domestic use.

Now Burton Safes  supply one of the most extensive ranges of safes available in the UK and offer Eurograde Safes up to Grade 6, Fire & Data safes, Deposit Safes, Key Safes, Free Standing Safes, Cupboard and Furniture Safes, Underfloor Safes, Wall Safes, Medical Cabinets, Security Cabinets, Cash Handling Solutions, Strongrooms up to Grade Eurograde 11.

As well as manufacturing in the UK, Burton Safes  use a number of different factories around the world to produce our safes, giving  greater capacity and flexibility.

As safe specialists Burton Safes  are able to offer a full range of services including delivery, installation and service by professional safe engineers.