- Acquisition Creates a 'Win-Win' Situation for Both Companies - ROCHESTER, N.Y., Aug. 7
ROCHESTER, N.Y., Aug. 7 /PRNewswire/ -- SentrySafe, the Rochester, New
York-based world leader in residential and small office security-storage
containers, has announced that the company has purchased Lafayette,
Indiana-based Schwab Corporation, a worldwide leading manufacturer of high-end
security & fire resistant files, safes, cabinets and vault doors for the
protection of records. The companies see the acquisition as an opportunity for
both businesses to leverage their assets to create an even stronger business
-- a win-win for both SentrySafe and Schwab Corporation. The purchase of
Schwab Corporation, which will be a wholly owned subsidiary of SentrySafe, is
effective immediately.
As the global market leader in the protective security storage container
business for more than 75 years, SentrySafe brings an extensive and quality
product portfolio, allowing Schwab Corporation to expand distribution into
markets SentrySafe already has a presence in. Schwab Corporation will allow
SentrySafe to enhance its file, cabinet and vault door markets and will help
broaden its already well-rounded product portfolio. Together, the companies
bring more than 210 years of combined fire and security protection to
consumers, small office/home office and commercial organizations.
"This is an extremely exciting time in our company history, since not only
are we welcoming Schwab Corporation into our family-owned business, but for
the first time are specifically acquiring a company to complement and enhance
our growing business," said Jim Brush, president and CEO of SentrySafe. "We
see this acquisition as a mutually beneficial opportunity for both companies,
and will remain dedicated to providing SentrySafe and Schwab Corporation
customers with quality products and high standards of customer care that they
have come to know and expect."
Schwab Corporation and SentrySafe will remain as two independently run
companies in the near-term, with opportunities for additional synergies and
growth identified in the months to come.
Schwab Corporation, a leader in the field of vital records and valuables
storage, and providing protection against fire and water damage, was founded
in 1872. The company's headquarters are in Lafayette, Ind., with its
manufacturing facility in Cannelton, Ind. Schwab Corporation employs
approximately 25 employees in Lafayette and 80 employees in Cannelton.
Founded in 1930, SentrySafe is the world leader in offering fire-resistant
and security storage solutions for important documents and valuables. A global
presence, SentrySafe today produces more fire-resistant chests, files, safes,
security storage containers and gun safes than any other company in the world.
The company's manufacturing headquarters are in Rochester, NY, and sales
operations exist in the U.S., Canada, Japan and UK. The company currently
distributes products to more than 54 countries worldwide. With the
acquisition, SentrySafe now employs more than 600, most of which are located
in the company's Rochester, NY, location.
As a leader in the security storage container industry, SentrySafe
manufactures quality products available at retail locations across the globe,
including Wal-Mart, Target, The Home Depot, Lowe's, Sam's Club, Costco, Sears,
OfficeMax, Office Depot, and Staples. For more information about SentrySafe
and its products, visit www.sentrysafe.com.
SOURCE SentrySafe
