MILTON KEYNES, ENGLAND (Feb. 22, 12:30 p.m. ET) — Specialty plastics manufacturer Filtrona plc has bought ID security system outfit Securit World Ltd. for 6 million pounds sterling ($9.4 million).
London-based Securit distributes desktop personal identification card systems, providing printers, software and associated accessories across a wide range of growing end-markets, including trade distribution, education, government, health and other industrial areas.
Milton Keynes-based Filtrona said the acquisition of Securit – on a debt-free basis – added to the existing capabilities of its Payne Security personal ID products business “and provided new opportunities in adjacent growth sectors, such as access control and membership.”
The deal was funded from Filtrona’s own facilities, the group said.