Allen-Vanguard closes acquisition of HMS

Allen%20Vanguard.jpgSecurity threat countermeasures company Allen-Vanguard Corp. finalizes its buyout of Hazard Management Solutions Ltd. At closing, Allen-Vanguard shelled out $27.3 million, over a third of it in interest-bearing vendor loan notes, for the UK-based company and its wholly-owned US subsidiary. The company also agreed to pay up to $21 million more over the next three year if HMS meets established targets. Allen-Vanguard announced in April that it was buying the privately held HMS, which develops systems to dispose of homemade bombs and booby-traps. HMS had £6.6 million in revenue last fiscal year, stemming largely from business with US customers. The company expects to double that figure this year.

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