SoloProtect Announces Official Spin-Off from Kings III
Move Sharpens Strategic Focus for Global Company and Drives Additional Value for Customers
The global leader in lone worker safety solution devices and services announced the official spin-off from Kings III, an emergency communications company. The decision comes after the sale of Kings III to Detroit-based Rockbridge Growth Equity, and reflects SoloProtect's ongoing commitment to implementing bold changes to continue driving sustainable growth.
"SoloProtect made its way into the U.S. market four years ago, after remarkable success in the U.K.," said CEO John Broady. "Since then, our market penetration and brand awareness in the U.S. has progressed strongly, and our focus now turns to positioning the business for long-term growth and leadership. The separation from Kings III uniquely positions us to lead and focus on the needs of our current and future customers."
SoloProtect carefully considered this decision, and profoundly believes this path is the best way to drive success. Its new structure enables a sharpened strategic focus and provide flexibility to capitalise on unique growth opportunities within target verticals.
"We're a family owned company and remain true to our core values. We're also a global company with the drive to compete and win. We'll continue to create long-term value for our customers and deliver growth opportunities for our family of employees," said George Broady, Owner and Chairman for SoloProtect.
In addition, SoloProtect believes the spin-off will result in other material benefits to being a standalone company, including:
• Greater management focus on distinct market verticals in the U.S., U.K. and EU;
• Increased flexibility, agility and resources to capitalize on its long-term opportunities and growth strategies; and
• Tailored capital structure and fiscal targets that are appropriate for the company's unique business profile.
Article Published 27.6.2017