Industry News | May 4, 2011

Two Cash Security Providers Merge

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Pfingsten Partners L.L.C. announced that Corporate Safe Specialists Inc. (“Corporate Safe”), a Posen, Illinois–based provider of cash management productsand services, including traditional safes, intelligent safes, and services, has merged with its portfolio company, FKI Security Group L.L.C. (“Fire King”). 

“The merger with Corporate Safe expands both company’s capabilities on a global scale,” says Philip Bradney, president and CEO of Fire King. “The two companies have long been recognized as premier manufacturers and service providers of security, safety, and asset protection solutions. This enables both businesses to offer a more comprehensive product and service solution for customers.”

“This combination creates the nation’s premier cash security firm,” says Edward McGunn, president and CEO of Corporate Safe. “We are looking forward to partnering with Fire King tocontinue to provide the innovative products and solutions that our customers have come to expect.” 

“Corporate Safe and Fire King unite two industry leaders to capitalize on the high growth potential we see with intelligent safes and services and accelerate each company’s business model,” says Scott Finegan, managing director at Pfingsten. “We are excited to be in a position to better serve this dynamic market.”

Fire King is a global manufacturer and national service provider of security, safety, and asset protection products. Products include fire- and impact-resistant file cabinets and safes, traditionaland intelligent safes, and digital video security systems. The company sells its branded and private-label products and services to a variety of retail end-users, commercial end-users, andmass merchandisers. 

The transaction closed on April 29.

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