Brady Corporation Sells French First-Aid Unit for $59 Million
Brady Corporation divested its Securimed SAS business to Safe Life International for roughly €53 million, or about $59 million.
Brady Corporation (NYSE: BRC) announced Wednesday that it has completed the sale of its French first-aid subsidiary, Securimed SAS, to Safe Life International for approximately EUR 53 million, or roughly USD 59 million.
The Milwaukee-based identification solutions company did not disclose additional financial terms of the transaction, including any impact on its fiscal outlook or plans for deploying the sale proceeds.
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Securimed SAS, a French first-aid products business, becomes part of Safe Life International's portfolio as Brady continues to streamline its operations. The divestiture signals a strategic narrowing of Brady's focus away from safety consumables and toward its core identification and workflow solutions segments.
Brady has been among the more active mid-cap industrial companies in portfolio management in recent years, and the Securimed transaction adds to a pattern of shedding non-core international assets. The dollar-equivalent valuation reflects current euro-to-dollar exchange dynamics at the time of closing.
Continue reading at GlobeNewswire - Mergers And Acquisitions.
