Lillington, NC - December 7, 2004 - Tomsed Corporation announced it has acquired Intertex Barriers and Booths, Inc. ("Intertex" or "IBB"), a manufacturer and installer of vehicle barriers and gates. Intertex is headquartered in Valencia, California. The terms of the transaction were not disclosed.
"We were attracted to Intertex because of its strong line of proprietary, U.S. State Department certified barrier products which are sold into the high growth security market. Further, those products are sold through distribution channels that are complementary to Tomsed's", said Robert Sedivy, President and Chief Executive Officer of Tomsed. "We look forward to supporting Intertex in its growth."
"During the last few years we have experienced increasing demand for our products, driven by Homeland Security requirements and overall increased awareness of the need for reinforcing perimeter defenses. As a result, we have expanded our manufacturing capability and are in a position to deliver and service the increase in distribution we will see through Tomsed's worldwide dealer network", said Joe Lopez, General Manager of IBB.
Tomsed Corporation is majority owned by Brynwood Partners L.P., a private investment firm based in Greenwich, CT. Henk Hartong, Jr., Senior Managing Partner of Brynwood said, "We are excited to add this investment to the Brynwood Partners family of companies. This investment is consistent with our strategy of building Tomsed into a significant competitor in the access control and Homeland Security markets."
IBB was advised b y Peter A. Sokoloff & Co., a firm that represents Homeland Security related companies nationwide.
About Tomsed Corporation
Tomsed Corporation is a US leader in access control products including full height and half height turnstiles and high security revolving doors. For more information on the company, please visit www.tomsed-turnstiles.com.
About Brynwood Partners
Founded in 1984, Brynwood Partners is a private equity fund which invests in lower middle market companies over a long-term horizon targeting consumer products, light industrial manufacturing, specialty retailing and business services. The principals of Brynwood have made investments in 17 portfolio companies and have successfully partnered with management and owners who want to continue to run their businesses but need the financial and operating partner support Brynwood uniquely provides. Brynwood Partners is based in Greenwich, CT. For more information, please visit: www.brynwoodpartners.com.