Stanley Convergent Security Solutions Completes Acquisition of Niscayah
Stanley Convergent Security Solutions (Stanley CSS) announces Stanley Black & Decker’s acquisition of Niscayah, one of the largest global security firms in Europe and the United States. Niscayah, based in Stockholm, Sweden, had sales of SEK 6.6 billion in 2010 and provides integrated security solutions, video surveillance and access control systems, fire and security systems and monitoring services to commercial, industrial, government, local, national and global customers throughout Europe and the United States.
“We are excited to welcome Niscayah’s customers and associates to Stanley,” said Brett Bontrager, Senior Vice President and Group Executive, Stanley Security Solutions. “This acquisition demonstrates Stanley's continued pursuit of its stated strategic goals to continue expanding and developing our global Security platform. Niscayah will add scale to our North American business as well as expand our presence into 12+ countries/regions where we currently do not have a Security Solutions presence.”
The acquisition comes after Stanley Black & Decker offered to purchase Niscayah for $1.2 billion in cash on June 27, 2011. Shortly after Stanley announced its intent to purchase Niscayah, the Independent Committee of the Board of Directors of Niscayah released a statement that unanimously recommended that shareholders and warrant holders accept the public offer made by Stanley Black & Decker.
Niscayah employs more than 5,000 associates in Europe and the United States and services both residential and commercial customers. Niscayah’s current commercial customer markets include banks, retail, gas stations, utilities, transport and lodging and public sector companies.
“Niscayah will be a perfect fit for Stanley in that its strategic vision is very similar to ours, and their operations offer both recurring revenue opportunity and a complementary geographical fit,” continued Bontrager. “The addition of Niscayah to the Security Solutions platform will benefit our customers tremendously by our expanded ability to serve their needs in multiple regions as a truly global provider of security solutions. The addition also creates exciting new growth opportunities for our employees and broadens our experience in the security arena.”
Following the completion of the acquisition, Stanley and Niscayah’s leadership will develop the best structure going forward in order to maintain the company’s commitment to being the industry’s gold standard.