Cornerstone Detention Acquires Norment Security Group
Wednesday, April 9, 2014
FOR IMMEDIATE RELEASE
April 7, 2014
(Huntsville, AL) Cornerstone Detention Products, a leader in the detention market, today announced that it has signed an agreement to acquire the Norment Security Group from The Gores Group, a leading Los Angeles‐based investment firm. Financial terms of the transaction were not disclosed.
Norment is one of the oldest and most respected detention contractors in the industry and the security group includes the successful brands of Airteq®, Trentech® and ECS®. Airteq® manufactures security locks, sliding devices, and door hardware. Trentech® and ECS® provide custom designed and fabricated electronic security systems. In addition, Norment is a leader in facility maintenance and service operations.
Mitch Claborn, President and CEO of Cornerstone said, “First and foremost, this is a great alliance between two industry pillars. The acquisition of Norment makes Cornerstone Detention the forerunner in the detention market and positions us to take advantage of an expanded global footprint and stronger distribution channels while enhancing our product and service offering.”
“The combined strength of Cornerstone and Norment will position the new company as a diversified leader in the industry. The new organization will thrive under Cornerstone’s leadership and benefit from unmatched industry expertise. ” said Charles Veniez, CEO of Norment Security Group. “I am excited for our employees and the opportunity to continue to provide world class service to our customers.”
About Cornerstone Detention Products, Inc.
Formed in 1998 by Mitch Claborn, Cornerstone Detention Products, Inc. has become one of the leading providers of services and engineered detention products, furnished and installed, in the United States and Canada. The company specializes in the engineering, design, distribution, installation and project management of institutional detention equipment and products for the jail and prison industries at the federal, state, county, private and local levels. For more information, visit www.cornerstonedetention.com