Smith & Wesson Holding Corp. has entered into an agreement to acquire privately held Universal Safety Response Inc. (USR), a provider of integrated perimeter security solutions.
Under terms of the deal, Smith & Wesson said it paid USR shareholders up to 9.7 million common shares and up to $26.2 million in cash.
The Franklin, Tenn.-based company was founded in 1994 and is best known for its GRAB vehicle safety barrier. The company serves a variety of clients in the defense, transportation and petro-chemical industries, as well as airports, Fortune 500 companies and national laboratories.
“We are excited about the opportunities that this acquisition creates for both Smith & Wesson and for USR,” says Michael Golden, president and CEO of Smith & Wesson Holding Corp. “USR has built a solid reputation in the perimeter security market based on its differentiated GRAB product and its unique ability to deliver integrated security systems solutions to an impressive list of government agencies and blue-chip customers.”
USR’s founder, Matthew Gelfand, will continue to serve as president. He will lead the USR operation and head Smith & Wesson’s efforts to develop USR’s security-related businesses.
The USR acquisition is expected to close in late July.
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