Oct 10, 2023   SOURCE: BusinessWire

Kreshmore Group Advises Service Central, Inc. on its Sale to RA-Lock Security Solutions, Inc.

Kreshmore Group (KG), a leading mergers and acquisitions advisory firm, is pleased to announce its role as exclusive sell-side advisor to Service Central, Inc. (SCI or the Company) in its acquisition by RA-Lock Security Solutions, Inc. (RA-Lock). The transaction was led by Kreshmore’s Anthony Lazzara.

About Service Central, Inc.: SCI offers innovative security solutions to customers from a wide range of industry sectors. Product offerings include cash handling, metal cabinets, high security locks, and security bars used within the banking, legal/court room, amusement, gaming, vending, laundry, and appliance industries. SCI, located 40 miles south of Chicago, is dedicated to best-in-class service and has a state-of-the-art production facility in Steger, Illinois.

About RA-Lock Security Solutions, Inc.: RA-Lock, headquartered in Midlothian, Texas, began doing business in 1969 as a manufacturer and designer of high-security lock housings, mainly for the vending and payphone industries. They offer a full line of high-quality industrial and door hardware security products, ranging from mechanical solutions to electronic access control. Over the years they have evolved from solely being a manufacturer towards becoming a factory service center and distributor. Today, RA-Lock represents many best-in-class manufacturers, including Medeco, ASSA-ABLOY, Illinois Lock Company, CompX, and Key Systems, Inc., just to name a few.

“Rita Traxler, the president and founder of SCI, has built an impressive company within the security cabinets and locks manufacturing market,” said Anthony Lazzara, Senior Managing Director of Kreshmore Group. “It was a pleasure working with both her and the buyside team as all displayed the utmost professionalism in consummating this transaction. This acquisition by RA-Lock gives them a strong brand that will drive growth through strategic cross-selling opportunities. We wish the entire SCI team the best and look forward to their continued success under the RA-Lock umbrella.”

“We are truly pleased to deliver another successfully M&A deal within the lower-middle market manufacturing space,” said Joseph B. Wabick, Managing Partner of Kreshmore Group. “We are excited to continue this trend as we head into 2024.”

The acquisition closed on September 22, 2023. Specific terms of the transaction were not disclosed.

About Kreshmore Group®

Kreshmore Group (KG) started operations in 2009 through its predecessors and has grown to become Chicago’s preeminent restructuring and M&A advisory company. The firm serves myriad niche industries while focusing on lower-middle & mid-market companies within the continental United States. KG assists clients in restructures/turnarounds, workouts, recapitalizations, M&A, real estate capital markets and real estate asset management, sell prep, senior and subordinated debt structuring, diligence services, c-suite advisory, outsourced analytics and modeling, business valuations, and solving complex financial problems with unique solutions. Headquartered in Lemont, Illinois, KG is known within the Chicagoland area as a tenacious and hyper-focused strategic consulting firm. Kreshmore Group consists of a creative, cohesive, and diverse team with over 175 years of combined relevant experience. To learn more about KG please visit www.Kreshmore.com or our LinkedIn page, today.