Corporate Safe Specialists Merges with FireKing
Deal will help to accelerate continued growth, new product and market opportunities
CHICAGO -- Pfingsten Partners LLC has announced that Corporate Safe Specialists Inc., a Posen, Ill.-based provider of cash management products and services, including traditional safes, intelligent safes and services, has merged with its portfolio company, FKI Security Group LLC, known as FireKing International.
"The merger with Corporate Safe expands both company's capabilities on a global scale," said Philip Bradney, president and CEO of FireKing. "The two companies have long been recognized as premier manufacturers and service providers of security, safety and asset protection [image-nocss] 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 and 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, said, "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.
The transaction closed on April 29, 2011.
Chicago-based Pfingsten Partners is an operationally focused private-equity firm founded in 1989. The firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten Partners has acquired 77 manufacturing, distribution and business service companies and has more than $1.2 billion of capital under management.