Security Company Buys Bank Specialist

Mosler Inc., a supplier of physical security products and services, has bought LeFebure Corp. for $34 million.

The addition of LeFebure's specialization in financial-services security products is intended to strengthen Mosler's ability to serve financial institutions. Privately held Mosler, with $227 million of revenue in the year ended June 30, sells security systems to government, retail, corporate, and financial services entities.

LeFebure, a subsidiary of the United Kingdom's De La Rue PLC and based in Cedar Rapids, Iowa, had revenue of $118 million in the year ended March 31. The combined company is expected to have revenue of more than $320 million and a network of more than 1,300 service representatives.

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