In October 2006, Armor Holdings Inc., a leading manufacturer and distributor of military vehicles, vehicle armor systems and life safety and survivability systems serving military, law enforcement, homeland security and commercial markets acquired Schroth Safety Products GmbH, a leading supplier of advanced safety restraints for vehicle and aviation platforms serving military, commercial and professional racing markets, for a net purchase price of 28.6 million USD.
Founded in 1946, Schroth has become a technical leader in the research, development and innovation of occupant retention and restraint systems. With facilities in Arnsberg, Germany and Pompano Beach, Florida, Schroth has established itself as a leading global supplier of restraint systems. These systems are used in military tactical wheeled vehicles, or military and commercial rotary wing and fixed wing aviation platforms, and professional auto racing vehicles for both the NASCAR and Formula 1 racing circuits. The sellers were Schroth Safety Products GmbH & Co. KG as well as private owners in Germany and the USA. Schroth will be integrated into the Armor Holdings Aerospace & Defense Group.
Following its acquisition of Sachsenring Fahrzeugbau GmbH in 2002, which today is active under the designation “Centigon”, Armor has thus acquired yet another German company engaged in security technologies, this time in the supplier market.
Schroth Safety Products GmbH was advised by Dr. Stefan Duhnkrack (M & A), Dr. Stefan Bretthauer (Corporate und Due Diligence), Kay Jacobsen (Labour Law), Dr. Michael Dröge (Real Estate), Dr. Søren Pietzcker (IP) and Gundel Winterhoff (Due Diligence) from the Hamburg Office.
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