Release No. 0907-02
RAYMOND JAMES MERCHANT BANKING UNIT
ST. PETERSBURG, Fla. – Raymond James Financial, Inc., on behalf of its merchant banking subsidiary, Raymond James Capital, Inc., today announced that it has entered into definitive agreements to acquire the business of Sirchie Finger Print Laboratories, Inc. (Sirchie) and certain other related assets and companies.
Based in Youngsville, N.C., Sirchie is a leading manufacturer and distributor of consumables, products and equipment used by law enforcement agencies worldwide to identify, collect, record, analyze and evaluate evidence for criminal investigations. The 85-year old company counts over 14,000 law enforcement agencies worldwide amongst its customer base.
The definitive agreements cover the businesses of Sirchie and those of related companies Premier Crown Corporation, American Institute of Applied Science, Inc., Forensic Products Inc., and Fingerprint Equipment Laboratories, Inc. Also included in the transactions is certain real estate and approximately 12.9 million shares of the common stock of Law Enforcement Associates Corporation (AMEX - AID), a manufacturer and distributor of audio and video surveillance products, and vehicle inspection systems.
The transactions will be effected through Sirchie Acquisition Company, LLC, 20 percent of which will be owned by the former majority shareholder of Sirchie. The closing of the transactions is subject to certain closing conditions, including satisfactory completion of due diligence, and is expected to close next quarter.
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