The following is a MSA press release:
MSA [Mine Safety Appliances Company] has announced it has purchased Paraclete Armor and Equipment, Inc. of St. Pauls, N.C., a rapidly growing innovator and developer of advanced ballistic body armor used by military personnel, including Special Forces units of the U.S. military. Paraclete Armor, which employs approximately 200 people and had annual revenues of $16 million in 2005, will continue to operate from its North Carolina base of operations. The purchase price was $30 million.
The acquisition, according to John T. Ryan III, MSA chairman and CEO, immediately…
enhances MSA’s existing line of ballistic body armor products and strategically positions the company to seek out new sales opportunities in both the military and law enforcement markets.
"This acquisition augments and accelerates our long-term growth strategy to provide a broad range of ballistic protective equipment to the military and law enforcement markets," Mr. Ryan said. "Paraclete is a premium name in body armor and has excelled in developing technologically advanced equipment that meets the demanding needs of forward force members of the military. With Paraclete now part of MSA, we’re better positioned to offer our military customers and law enforcement agencies the very best in ballistic body armor."
The company’s most recent product development – the AV2007 Tactical Body Armor System – represents the next generation of advanced body armor. The vest features a modular design that allows 23 vest configurations, enabling users to tailor the degree of protection based on specific mission or task requirements. The vest employs state-of-art materials for enhanced protection against fragmentation and small arms projectiles.