Kaba Negotiates Acquisition of Saflok and La Gard

WINSTON-SALEM, N.C.

The Kaba Group is negotiating the acquisition of Computerized Security Systems Inc. (CSS) from parent company Masco Corp. The acquisition is expected to complement Kaba’s present product lines while exposing them to all segments of the lodging and commercial access control markets.

Once the acquisition is finalized it will be headed by Carl Sideranko, who is now general manager of Kaba in Lexington, Ky.

“The planned acquisition of Computerized Security Systems provides Kaba with value-boosting synergy potentials in development, production, marketing and distribution,” says Ulrich Graf, director of Kaba Holding AG.

Certain antitrust authorities in Europe have yet to approve the transaction, but Kaba expects the acquisition negotiations to be completed successfully within the next few weeks. The Federal Trade Commission (FTC) has also concluded its investigation and has announced the conclusion on the FTC Web site.

CSS is a manufacturer of electronic lodging and security locks operating primarily within the United States, Europe and Asia. CSS’ products, which are currently marketed under the brand names Saflok and La Gard, generated $73 million in sales in 2005. Both Saflok and Kaba products service the hospitality and gaming markets, in addition to the vacation rental market, multihousing market, as well as commercial, military, and government facilities worldwide. La Gard specializes in security locks for safes, bank vaults and other commercial applications.

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