Gunnebo Acquires Security Products Division of Australian API Security Holdings -- Security Today

Gunnebo Acquires Security Products Division of Australian API Security Holdings

Sep 16, 2010

Gunnebo security group has acquired the security products division from Australian API Security Holdings. This acquisition makes Gunnebo the leading supplier of secure storage products and cash handling solutions to the retail and commercial sector in Australia.

“Through this acquisition, we have doubled the size of our Australian business and significantly enlarged Gunnebo Australia’s client base within the business area bank security and cash handling. We are now the market leaders in providing physical security solutions to banks, the governmental and the commercial sector, and also a major provider of cash handling products to retailers and other business reliant on the efficient automation of cash transactions,” said Dan Turner, country manager for Gunnebo Australia.

The acquired division has an annual turnover of MEUR 9 and 45 employees. It manufactures, sells and installs safes, vaults and other specialist security containers primarily within the governmental and commercial sectors. It also develops, manufactures, sells and service cash management solutions for retail and convenience operations.

“The acquisition is in line with our strategy to boost growth on our main markets in Asia/Pacific. The customer base and product portfolio we now have gained will also support us in strengthening our position as a security service provider in Australia,” said Per Borgvall, Gunnebo’s president and CEO.

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