Lincoln International (“Lincoln”), a leading global mid-market investment bank, is pleased to announce that Stack-On Products (“Stack-On” or the “Company”) has been sold to Cannon Safe, Inc. (“Cannon Safe”) with a supporting investment from MidOcean Partners (“MidOcean”). Terms of the transaction were not disclosed.
Stack-On, based in Illinois, was founded by John Lynn in 1972 and is a leading supplier of secure storage and home organization solutions with over 45 years of proven success. Stack-On manufactures and distributes home safes, gun security products, garage storage and organizational products under the Stack-On, Sovereign and Sentinel brand names and is highly regarded for its strong reputation in design, sourcing and distribution, serving the full range of retailers through its go-to-market strategies, category management capabilities and high quality services.
Don Pannier, Executive Vice President for Stack-On, commented, “We are excited for this new chapter in Stack-On’s legacy and the opportunity to partner with the Cannon Safe team in continuing to drive the expansion of the secure storage sector.”
Chris Stradling, Managing Director in Lincoln’s Consumer Group, added, “We congratulate the teams from Stack-On and Cannon Safe on this transaction. The iconic brands, best-in-class products, and combined operating strength of the two companies uniquely position the combined business for continued market leadership.”
Lincoln acted as the exclusive sell-side advisor to Stack-On, working closely with the management team and shareholder throughout the sale process. This included providing advisory expertise and managing the marketing, negotiation and due diligence phases of the transaction.
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- Industries
- Headquarters Regions Western US
- Founded Date 1965
- Operating Status Active
- Company Type For Profit
- Phone Number 800-242-1055
Cannon Safe has been in business since 1965 and has long been recognized as an industry leading manufacturer of high quality products including large scale safes, personal safes, home security products and quick access safes under the Cannon Safe, GunVault and Cannon Security Products brand names. Cannon Safe is a start to finish manufacturer of
large scale residential fire safes And GunVault is the leader in quick access home defense safes, with a well-established consumer following around its patented No-Eyes® keypad. Cannon Safe has a stated goal of “A Safe in Every Home” that is the motto of every team member at the company.
Where is Cannon Safe's headquarters? Cannon Safe is located in Las Vegas, Nevada, United States.Who are Cannon Safe's competitors? Alternatives and possible competitors to Cannon Safe may include Midea Group, Parker Hannifin, and simplehuman .
OP Campfire Guide Joined: Nov 2005 Posts: 3,615 | In other business developments, Alpha Guardian, the parent company of Cannon Safe, Stack-On Products, and GunVault USA has filed for bankruptcy protection. In the Chapter 11 filing in U.S. Bankruptcy Court, Las Vegas, the company listed assets of “up to $50 million” and debt of as much as $500 million.” |
Joined: Oct 2013 Posts: 8,490 Campfire Outfitter | |
Campfire Outfitter Joined: Oct 2013 Posts: 8,490 | In other business developments, Alpha Guardian, the parent company of Cannon Safe, Stack-On Products, and GunVault USA has filed for bankruptcy protection. In the Chapter 11 filing in U.S. Bankruptcy Court, Las Vegas, the company listed assets of “up to $50 million” and debt of as much as $500 million.” Sounds like the CEO needs some prison time to think this over. Writing here is Prohibited by the authorities. |
Joined: Jul 2015 Posts: 11,067
Campfire 'Bwana | |
Campfire 'Bwana
Joined: Jul 2015 Posts: 11,067 | Law360 (February 26, 2020, 5:01 PM EST) -- Safe maker Alpha Guardian has filed for Chapter 11 in Nevada bankruptcy court, saying the 2017 merger that formed the company has left it running in the red with with $120 million in debt as it fails to keep up with customer demands. In a declaration filed Tuesday, Chief Restructuring Officer Nicholas Rubin said the merger left the new company overleveraged and with factories that have been unable to fulfill the majority of orders, sending the company into default and ultimately into Chapter 11 Anybody can tank a company that has no sales, but it REALLY takes talent to kill a company that has more demand than they can handle! Politics is War by Other Means |
Joined: Feb 2013 Posts: 5,933
Campfire Tracker | |
Campfire Tracker
Joined: Feb 2013 Posts: 5,933 | Law360 (February 26, 2020, 5:01 PM EST) -- Safe maker Alpha Guardian has filed for Chapter 11 in Nevada bankruptcy court, saying the 2017 merger that formed the company has left it running in the red with with $120 million in debt as it fails to keep up with customer demands. In a declaration filed Tuesday, Chief Restructuring Officer Nicholas Rubin said the merger left the new company overleveraged and with factories that have been unable to fulfill the majority of orders, sending the company into default and ultimately into Chapter 11 Anybody can tank a company that has no sales, but it REALLY takes talent to kill a company that has more demand than they can handle! Very true. They had unlimited distribution. |
Joined: Jul 2004 Posts: 46,876 Campfire Oracle | |
Campfire Oracle Joined: Jul 2004 Posts: 46,876 | In other business developments, Alpha Guardian, the parent company of Cannon Safe, Stack-On Products, and GunVault USA has filed for bankruptcy protection. In the Chapter 11 filing in U.S. Bankruptcy Court, Las Vegas, the company listed assets of “up to $50 million” and debt of as much as $500 million.” Sounds like the CEO needs some prison time to think this over. Exactly! We may know the time Ben Carson lied, but does anyone know the time Hillary Clinton told the truth? Immersing oneself in progressive lieberalism is no different than bathing in the sewage of Hell. |
Joined: Aug 2004 Posts: 65,027
Campfire Oracle | |
Campfire Oracle
Joined: Aug 2004 Posts: 65,027 | In other business developments, Alpha Guardian, the parent company of Cannon Safe, Stack-On Products, and GunVault USA has filed for bankruptcy protection. In the Chapter 11 filing in U.S. Bankruptcy Court, Las Vegas, the company listed assets of “up to $50 million” and debt of as much as $500 million.” Sounds like the CEO needs some prison time to think this over. Sounds like the govt. |
Joined: Jun 2008 Posts: 5,444 Campfire Tracker | |
Campfire Tracker Joined: Jun 2008 Posts: 5,444 | Lemme guess. They took out large lines of credit, right after the merger, the CEO and Board of Directors all got huge bonuses in 17/18/19, and DESPITE demand outstripping supply, they still managed to go “bankrupt”??? The only thing worse than these idiot thieves running these companies, are the banks/creditors/etc who CONTINUE to fall for this scam, and lend these businesses ridiculous amounts of money/extending these lines of credit. |
Joined: Jun 2002 Posts: 118,319 Campfire Oracle | |
Campfire Oracle Joined: Jun 2002 Posts: 118,319 | How can you get that far upside down??? They busted it out. "Whenever you find yourself on the side of the majority, it is time to pause and reflect." - Mark Twain "When the whole world is running towards a cliff, he who is running in the opposite direction appears to have lost his mind." – C.S. Lewis |
Joined: Jul 2015 Posts: 11,067
Campfire 'Bwana | |
Campfire 'Bwana
Joined: Jul 2015 Posts: 11,067 | You have to wonder if some loan officers weren't taking kickbacks. Politics is War by Other Means |
Joined: Jul 2011 Posts: 1,396 Campfire Regular | |
Campfire Regular Joined: Jul 2011 Posts: 1,396 | I thought Cannon Safe was owned by the Baker family. I met one of them in Zimbabwe back in 2012, I believe Mike Baker. They must have sold to Alpha Guardian.It is certain that Alpha would streamline them and make them better....... |
Joined: Jun 2008 Posts: 5,444 Campfire Tracker | |
Campfire Tracker Joined: Jun 2008 Posts: 5,444 | How can you get that far upside down??? They busted it out. Yep. That’s how it works. Just on a MUCH bigger scale. |
Joined: Feb 2018 Posts: 7,533 Campfire Outfitter | |
Campfire Outfitter Joined: Feb 2018 Posts: 7,533 | Battery lock on their money vault went bad and they could not get any more money? Yeah.....I was looking for a small safe that was inexpensive, and all I could find in a Cannon was an electronic lock. If they had a dial, I would have bought one. I ended up with a Liberty. I will never own an electronic lock on anything important. |
Joined: Nov 2011 Posts: 27,930
Campfire Oracle | |
Campfire Oracle
Joined: Nov 2011 Posts: 27,930 | Law360 (February 26, 2020, 5:01 PM EST) -- Safe maker Alpha Guardian has filed for Chapter 11 in Nevada bankruptcy court, saying the 2017 merger that formed the company has left it running in the red with with $120 million in debt as it fails to keep up with customer demands. In a declaration filed Tuesday, Chief Restructuring Officer Nicholas Rubin said the merger left the new company overleveraged and with factories that have been unable to fulfill the majority of orders, sending the company into default and ultimately into Chapter 11 Anybody can tank a company that has no sales, but it REALLY takes talent to kill a company that has more demand than they can handle! Actually, It's easier than you think, especially if that high demand is due to improper pricing. Nobody spends somebody else�s money as carefully as he spends his own. Go quiet or full tilt, just don't get caught in the middle of the stupids. DD |
Joined: Nov 2011 Posts: 27,930
Campfire Oracle | |
Campfire Oracle
Joined: Nov 2011 Posts: 27,930 | Battery lock on their money vault went bad and they could not get any more money? Yeah.....I was looking for a small safe that was inexpensive, and all I could find in a Cannon was an electronic lock. If they had a dial, I would have bought one. I ended up with a Liberty. I will never own an electronic lock on anything important. Most of those electronic locks have a manual over ride, which is often the weak point in the design. Nobody spends somebody else�s money as carefully as he spends his own. Go quiet or full tilt, just don't get caught in the middle of the stupids. DD |
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