Security Sales & Integration October 2021 - 10

INDUSTRY PULSE NEWS
ASSA ABLOY to Pay $4.3B for
Spectrum Brands' Hardware,
Home Improvement Unit
▶ STOCKHOLM - ASSA ABLOY has signed
a definitive agreement to acquire the Hardware
and Home Improvement (HHI) division
of Spectrum Brands for $4.3 billion.
Spectrum Brands' HHI division is a
leading provider of security, plumbing
and builders' hardware products to the
North American residential segment
with a diversified product offering of
locksets, faucets and builders' hardware.
The division's product portfolio includes
patented SmartKey technology and electronic,
smart and biometric locks, with
brands such as Kwikset, Baldwin, Weiser,
Pfister and National Hardware.
Based in Lake Forest, Calif., with some
7,500 employees worldwide, HHI has
manufacturing facilities in the United
States, Mexico, Taiwan, China and the
Philippines. For the fiscal year ending
September 2020, HHI's net sales were
$1.34 billion with an adjusted EBITDA
CTSI to Acquire Long-Established
AFA Protective Systems
▶ CHANTILLY, Va. - Corbett Technology
Solutions (CTSI), a portfolio company of
Wind Point Partners, has signed a definitive
agreement to acquire AFA Protective
Systems, an industry leader in the design,
installation and service of fire and security
systems. Under the terms of the merger
agreement, an affiliate of CTSI will commence
a cash tender offer to acquire all
outstanding shares of AFA common stock
(OTCMKTS: AFAP) for $743.50 a share as
of Sept. 2.
Founded in 1873, the Kleinman family
acquired a controlling interest in AFA
in 1968, and over the past 50 years developed
the company into a leading fire
and security monitoring, service and integration
firm across the eastern United
States. Today, the company services
more than 28,000 customers throughout
10
margin of around 19%.
" This acquisition advances our strategy
to strengthen our position by adding
complementary products to the core
business and it will further accelerate
the transformation from mechanical
to digital solutions, " says Nico Delvaux,
president and CEO of ASSA ABLOY.
ASSA ABLOY says it can bring technological
innovation to consumers using
HHI's access to new retail channels, such
as homebuilders and DIY retail, and that
HHI's large installed base and favorable
consumer reputation provides an excellent
opportunity to grow its electromechanical
and digital access solutions.
The transaction is conditional upon
regulatory approval and customary
closing conditions and is expected to
close during Q4 2021. HHI will become
part of ASSA ABLOY's Opening Solutions
Americas Division.
the East Coast via 17 branch locations
with national account coverage throughout
the U.S.
" By the companies working together, we
will each be able to offer our customers an
enhanced list of services, " says AFA president
and COO Richard Kleinman, a member
of the SSI Industry Hall of Fame. " Also
very important to us was that CTSI recognized
the importance of AFA's legacy as the
country's oldest surviving central station
alarm company, our commitment to codes
and standards complying systems, and CTSI's
desire to preserve that legacy by keeping
the AFA corporate entity intact. We believe
this deal is good for AFA's customers,
its employees and its shareholders. "
AFA represents the fourth acquisition
for CTSI since partnering with Wind Point
in June 2020. CTSI, based here, designs,
engineers, installs and maintains highly
engineered nurse call, A/V, conferencing,
Security Sales & Integration OCTOBER 2021
securitysales.com
collaboration, sound, fire, security and
communication systems. The company
serves thousands of private, public and institutional
clients.
Apply Now to Attend the 2021
SSI & Total Tech Summit
▶ FRAMINGHAM, Mass. - Applications
are still being accepted to attend and
sponsor the Total Tech Summit. Comprised
of the SSI Summit, CE Pro Summit and
Commercial Integrator Summit, this year's
event will take place in Orlando at the Orange
County Convention Center, Nov. 17-19.
With new safety protocols in place, SSI
parent company Emerald is taking every
measure to ensure that this year's event
is safe, secure, and most importantly, a
good experience for all those who are in
attendance. These protocols include daily
temperature checks,
six-foot distancing,
mandatory face masks, enhanced cleaning
disinfection services for booth and around
all public areas, and much more.
At this all-expense-paid, exclusive
event, VIP guests will have the chance to
sit in on industry-defining sessions, key
boardroom presentations, and be able to
meet one-on-one with potential vendors.
Total Tech Summit brings together the best
in class to share ideas, learn from others
and, most importantly, accelerate the next
stage of their businesses.
For more information about the
Total Tech Summit or to apply to attend
one of the individual events, visit
totaltechsummit.com.
http://www.totaltechsummit.com http://www.securitysales.com
Security Sales & Integration October 2021

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