Regulatory Approval Received for Betafence Acquisition of Hesco
Jul 08, 2016, 07:00 ET
LEEDS, England and GHENT, Belgium, July 8, 2016 /CNW/ - Following the announcement made March 2016, Betafence, the global perimeter security specialist, has received approval to complete the acquisition of Hesco, a leader and innovator in the design and manufacture of rapidly deployable barrier systems.
The acquisition was closed Thursday 7th July, 2016 having obtained regulatory approval from the Committee on Foreign Investment in the United States (CFIUS). This acquisition underpins Betafence's high security strategy accelerating organic growth with the recent acquisition of SecureUSA and the intellectual property rights agreement with Gibraltar US.
Operating as separate brands, Hesco and Betafence will work to expand their product portfolios with immediate focus on innovation and delivery of security solutions to protect critical infrastructure and people against the threats of terrorism and vandalism worldwide.
Michele Volpi, CEO of Betafence Group, commented:
"Market reaction to the transaction has been very positive and I am sure that with Hesco, Betafence Group is well positioned to accelerate the growth of its global high security business. Customers will benefit from our combined product portfolio and expertise. Together we will provide comprehensive security know-how with trusted brands that have been tested to the limit and proven in the field across numerous key markets around the world."
Michael Hughes, Hesco Group Chief Executive, said:
"There are numerous opportunities for partnership in our key markets and within these first four months of collaboration a clear synergy has developed between both companies creating a pathway to develop our business in our focus markets of defence, oil and gas and energy."
Betafence and Hesco are dynamic players in a market facing a growing global need for comprehensive security solutions for critical assets. This partnership presents a significant opportunity for both to address this demand and strengthen their position as the provision of solutions for high security perimeter protection around the world.
Please visit http://www.betafencehesco.com, for further information about the transaction.
Betafence (http://www.betafence.com ) is a world market leader of integrated perimeter security systems and solutions.
Betafence protects critical infrastructure & sensitive sites in the public and industrial sectors as well as in the residential market. With over 130 years' experience, Betafence sets standards of excellence in its industry and is recognised as leader in perimeter systems, service and integration.
Betafence has a strong brand heritage with companies including SecureUSA and products like TerraBlock®, Blastguard, Securifor®, Guardian®, Bekasecure® and Nylofor®.
CVC Capital Partners owns a majority stake in Betafence. The company currently employs 1400 people with 9 production sites and a network of sales offices throughout the world. Headquarters are located in Belgium.
About Hesco Group
Hesco (http://www.hesco.com ) is a world leader and innovator in defense, perimeter protection and security systems, including defensive barriers, flood barriers, rapid deployment systems, safe haven bunkers and ballistic resistant body armor.
Founded in 1991 by the late Jimi Heselden OBE, Hesco engineers products across the world that inspire confidence for multiple uses in military, security and environmental applications.
Hesco is synonymous with force protection and is recognized across its industry for its commitment to saving lives, property and the environment, whenever and wherever it is needed.
Hesco currently employs over 150 people around the world, with over 500,000 sq ft across its operations in the UK and the US and further storage facilities in the Dubai Free Trade Zone.
SOURCE Betafence & Hesco
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