IonBond Read More

News

Stirling Square Capital Partners portfolio company 3SI acquires IBP France

June 2007

London, 30 June 2007, Stirling Square Capital Partners [“Stirling Square”], the pan-European private equity firm, today announces that its portfolio company 3SI Security Systems [3SI], the world’s leading manufacturer of electronic security systems for cash protection, has signed an agreement with IBP France [“IBP”] for the acquisition of its operations.

IBP France, created in 1993, specialises in the distribution of innovative security systems for financial institutions. This strategic acquisition confirms 3SI’s market leadership in France of smoke and dye security systems and strengthens the installed base with approximately 1.000 SmokeNote installations. As part of the transaction 3 executives will join 3SI.

3SI is the world leader in electronic cash protection solutions, supplying 91 of the top 100 banks in the USA and 27 of the top 50 banks in Europe. The company has offices and headquarters in the US and Europe.

Stirling Square has supported the 3SI management team in pursuing its strategy to enhance product offering and the geographical exposure of its business. The acquisition of IBP reinforces 3SI’s market leadership, strengthens its presence in Europe and further improves the firm’s ability to deliver on client needs.

Bolaji Odunsi, Partner at Stirling Square said: “This is the second acquisition made by 3SI this year. We see great potential for the combined business and will continue to provide strategic input and capital in order to ensure 3SI continues to grow under Stirling Square’s ownership.”

Thomas Oxenfeld, CEO, of the combined business said: “We are looking forward to working with Jacques Gallais, CEO, IBP France and his team to build on our respective successes to date and continue to serve our clients’ needs. In partnership with Stirling, we have been able to source yet another intelligent acquisition to move the business forward.”

Jacques Gallais, said: “We are excited that we will be able to expand our market presence through the 3SI distribution network and cross sell respective products. This transaction allows 3SI access to our market leading position in France and I look forward to together accelerating the development of new and innovative products and driving international growth.”

Notes to Editors:
For further information contact:

Financial Dynamics (for Stirling Square Capital Partners) – (44) 20 7269 7256
Fergus Wheeler / Lucy Kelly

3SI Security Systems
Thomas E. Oxenfeld, President & CEO
+1 610 280 2000

IBP France
Jacques Gallais, CEO


Stirling Square Capital Partners

Stirling Square Capital Partners is one of Europe’s leading mid-market private equity investors. SSCP seeks to invest in ‘mid-market’ firms characterised by proven business models, market leadership, high cross-border development potential and talented management teams.

SSCP targets European transactions between €50-500 million from a wide spectrum of industries and specialises in complex, cross border deals. Since inception in September 2002, the Fund has led ten leveraged acquisitions. The partners at SSCP collectively bring over 80 years of private equity experience.
www.stirlingsquare.com

3SI Security Systems
3SI Security Systems is a world leader in protecting cash, using proprietary electronic smoke and ink and GPS-based technologies in banks ATMs, safes and other applications. Currently, 91 of the top 100 banks in the USA and 27 of the top 50 banks in Europe use 3SI security solutions. Its US headquarters are located in Exton, PA and the European headquarters are located in Zaventem, Belgium. The company has R&D and production facilities in Byron, Georgia, USA and Zaventem, Belgium. Globally, the business employs a team of 185 people providing innovative solutions, professional service and customer satisfaction.
www.3sisecurity.com

IBP France
IBP France was created in 1993 and specialises in the distribution of innovative security systems for financial institutions. IBP France has been the exclusive distributor of ECA products in France. [Please insert further company information]