Betafence Accelerates International Growth Strategy with Acquisition of HESCO
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Betafence Accelerates International Growth Strategy with Acquisition of HESCOHESCO
Global perimeter security specialist Betafence has announced the acquisition of Hesco, a leader and innovator in the design and manufacture of rapidly deployable barrier systems.
This acquisition underpins an acceleration of Betafence's high security growth strategy, building on the recent acquisition of SecureUSA and the intellectual property rights agreement with Gibraltar US.
Hesco is recognised internationally as an iconic brand synonymous with force protection; securing assets and protecting people.
It specialises in rapidly deployable perimeter protection, safe haven bunkers and ballistic-resistant body armour for the defence, energy and law enforcement sectors, supplying customers including the US Army, United Arab Emirates Land Forces, United Nations and UK Ministry of Defence.
Hesco will enhance the Betafence product portfolio, strengthen its integrated solutions approach and expand its global footprint, specifically in the US and the Middle East. The company has been an established partner of Betafence for a number of years and, following this transaction, will operate as a stand-alone subsidiary of Betafence, led by Michael Hughes.
By integrating its perimeter security products with industry-leading technologies and project management services, Betafence delivers turnkey total perimeter solutions for critical infrastructure, protecting assets and operations.
These solutions are designed to meet the demanding requirements of customers across the globe such as Aramco, Statoil, Pepco, Shell, NATO, NASA, US Department of Homeland Security, US Department of Defence and borders such as the frontier between the US and Mexico.
Michele Volpi, CEO of Betafence Group, commented: "We are delighted to acquire such a renowned business as Hesco.
"Today's deal underpins Betafence's accelerated international growth strategy to provide global protection solutions to secure assets and protect people. Hesco has an excellent track record with international customers in the defence, oil and gas and energy sectors, particularly in the US and the Middle East.
"Both Betafence and Hesco are dynamic players in a market facing a growing global need for comprehensive security solutions for critical assets. There is a significant opportunity for Betafence to address this demand and strengthen our position across the global High Security market, both organically and through further acquisitions."
Michael Hughes, CEO of Hesco Group, said: "This is an exciting opportunity for Hesco. Our partnership with Betafence will enable us to accelerate Hesco's development and we will immediately add significant value to Betafence's provision of solutions for high security perimeter protection around the world.
"There are numerous opportunities for collaboration in our key markets and we believe that being part of the Betafence Group will help ensure continued future success for our employees, customers and suppliers."