Fitchburg company terminates $4M acquisition
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Security Devices International is the maker of a multitude of different kinds of less-lethal ammunition.
Security Devices International Inc., the Fitchburg maker of rubber bullets and other less-lethal projectiles used by military and police forces, has terminated a $4.14-million acquisition after looking into the other company’s financials.
The acquisition of the undisclosed U.S. manufacturer was announced in March, but during SDI’s due diligence process there were a number of items in the target firm's financial statements that “raised concerns in support of the negotiated price of the transaction,” SDI announced in a release. SDI has since terminated discussions with that company, although it is open to revisiting the opportunity in the future.
The Fitchburg company said it is continuing to look for acquisitions and strategic partnerships in the less-lethal sector, to broaden its distribution reach, and line of products.
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