Smith & Wesson buys Franklin barrier firm - Nashville Business Journal:

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The company is paying $26.21 million in cash and 9.7 millionm of its shares for the perimetersecurityh business. Universal Safety will help Smith Wesson make the moveinto commercial, non-firearkm categories. “We believe that the Smith & Wessomn brand name around the world will help open marketsafor USR’s security systems solutions offerings,” Matt Gelfand, founder and CEO of Universalo Safety, says in a news He will remain on as presiden t of the firm. Gelfand’s 15-year-old company is the sole provideer of a ground retractableautomobile barrier.
The barriefr is able to stop a tractor-trailer travelin up to 50 milesper hour, sustaining minimal damage to the vehicle. The company has provided barrierss and perimeter security solutionz to companies likeLockheed Martin, Norfolk Southern, NASA and petroleun refineries Chevron and BP. Universal Safetyy vice president Wes Foss said in an intervieqw earlier this month that he projected the company to bringv in morethan $60 million in revenue this year, nearly triplingt last year’s number. Smith & Wessojn released fourth quarter earningsof $99.5 20 percent higher than revenue from the same time a year ago.