Friday, August 03, 2001
Armor, O'Gara make plans
Future secure in Fairfield
By Mike Boyer
The Cincinnati Enquirer
Greater Cincinnati's newest corporate citizen has some big plans for its latest acquisition.
Jacksonville, Fla.-based Armor Holdings Inc., expects to complete its previously announced purchase of Fairfield-based O'Gara-Hess & Eisenhardt, the vehicle armoring company, as soon as next week.
Jonathan Spiller, CEO of Armor Holdings Inc. (left), and Bill O'Gara, CEO of O'Gara-Hess & Eisenhardt, play horseshoes during the company picnic Thursday.
(Michael Snyder photo)
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The $56.5 million purchase from New York City-based Kroll-O'Gara Co., ends a couple of tumultuous years for the 200-employee Fairfield company, which has built armored limousines for every U.S. president since Harry Truman.
And Jonathan Spiller, president and CEO of Armor Holdings, Thursday said he has big plans for O'Gara-Hess & Eisenhardt.
We're buying this company because we see a big opportunity to grow the business. ... We're not planning to move it, he said during a picnic for O'Gara employees to welcome them into Armor Holdings.
Armor, which makes flak vests, helmets, shields and Mace for law enforcement and security personnel, has developed a track record for growth since going public in 1996, completing 24 acquisitions and expanding revenues from $11 million to about $350 million including O'Gara-Hess & Eisenhardt.
We buy No.1 brands, and (O'Gara) is the No.1 brand in the industry, he said.
That's good news for O'Gara's employees. The company, which traces its local roots to a 19th-century carriage maker, merged in 1997 with the Kroll Group, a New York City-based corporate investigations firm with promises of huge potential for cross-selling security products and services.
Despite a string of acquisitions, Kroll-O'Gara never lived up to its promise because of a series of disputes and problems between the company's New York and Fairfield operations.
Fairfield will become home of Armor's new mobile security division when the purchase is completed.
Bill O'Gara, president of O'Gara-Hess & Eisenhardt, said the company is already looking to add about 20 employees over the next six months to handle expanded production. Mr. O'Gara, who with brother Tom led the formation of Kroll-O'Gara, said he plans to leave the company to pursue other interests after a transition period.
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