Armor Holdings Inc. announces that it has acquired all of the outstanding stock of Break-Free Inc., a leading manufacturer of branded products, including specialty lubricants, cleaners and preservatives, and military weapon maintenance systems. The total purchase price was $2.38 million in cash. Armor Holdings, which was included in Fortune’s “America’s 100 Fastest Growing Companies” in 1999, is a global provider of security risk management services and electronic security systems integration to multinational corporations and governmental agencies, including law enforcement, through its ArmorGroup Services division.
“The brand [Break-Free(r)] has not been heavily marketed to law enforcement and we perceive this as a terrific opportunity. We plan to absorb Break-Free’s operations into our Jacksonville facility and expect to realize significant leverage in our distribution channel,” says Jonathan M. Spiller, president and CEO of Armor Holdings.
