April 6 2005
TOMSED Corporation announces merger with The Royal Boon Edam Group
Lillington, North Carolina - April 6, 2005 - TOMSED Corporation ("Tomsed") announced it has reached agreement with the shareholders of The Royal Boon Edam Group Holding BV ("Boon Edam") of the Netherlands to merge 100% of TOMSED and its three business units, TOMSED, Safesec and Intertex Barriers and Booths ("IBB") into The Royal Boon Edam Group.
TOMSED Corp. was founded in 1981 as a family-run company and is now the largest supplier of entrance barriers to the US market. Brynwood Partners purchased a majority stake in TOMSED in 2001. Safesec, acquired by TOMSED in 2003, is the second largest supplier of security revolving doors in North American and IBB, acquired by TOMSED at the end of 2004, is a manufacturer of high-security Department of State approved vehicular barriers and gates.
The business activities of Boon Edam, Inc. the largest supplier of revolving doors in the US and the US subsidiary of Royal Boon Edam Group Holding BV, will be merged into TOMSED Corp, which will be renamed Boon Edam TOMSED Inc. Robert Sedivy, the current President and CEO of TOMSED Corp. will become the President and CEO of Boon Edam TOMSED Inc. and a board member of BEGH. Sedivy stated "the merger with The Royal Boon Edam Group greatly enhances our product offerings and allows us to offer an extremely broad platform of pedestrian and vehicular physical security equipment to our customers. We very much look forward to expanding our global reach through Boon Edam's extensive worldwide network."
Royal Boon Edam's Group Managing Director, Nick Kersey said "besides giving the Group a substantial increase in our business platform in the USA with a combined operation of over $30 million, the Royal Boon Edam Group will also provide a valuable export outlet for both TOMSED's products and IBB's vehicular barriers and gates. We believe this to be a very exciting development of the Royal Boon Edam Group and for TOMSED, not only in the USA but also worldwide and we look forward to sharing this experience with all of our employees and customers.
For additional information please visit: www.boonedam.com or www.tomsed.com.
About Brynwood Partners Founded in 1984, Brynwood Partners is a private equity fund that invests in lower middle market companies, has a long-term investment holding period and targets companies operating in the consumer products, light industrial manufacturing, specialty retailing and business services industries. The Brynwood Funds have made investments in 19 portfolio companies and have successfully partnered with management and owners who want to continue to run their businesses but need the financial and operating partner support Brynwood uniquely provides. Brynwood Partners is based in Greenwich, CT. For more information on Brynwood please visit www.BrynwoodPartners.com.