Stanley in deal with RFID company
Stanley Works will purchase Xmark, the Canadian subsidiary of radio frequency identification (RFID) systems maker VeriChip, for $45 million in cash, according to the companies.
Xmark’s products include child security products as well as asset tracking systems for hospitals. Brands include “Halo” infant security systems, wander protection systems for children under the “Hugs” brand and hospital and asset tracking systems under the “RoamAlert” brand.
Xmark had revenues of $30 million last year.
“The combination of Xmark’s capabilities, including its products, associates and dealer channels, with those of our own personal security business enables us to provide our customers a wider array of value-added products and services,” said John Lundgren, chairman and CEO of Stanley Works, “which should help our security business achieve higher growth and enhance its already strong profitability.”
Wolseley donated supplies for Virginia tornado relief
Wolseley North America’s divisions, Ferguson and Stock Building Supply, provided extensive aid to storm victims in the state of Virginia following tornadoes and severe storms earlier this month.
Packages to the city of Suffolk, several neighborhoods of which were damaged by a tornado, included gloves, ply board, tarps, hammers, shovels, nails and numerous other supplies.
“Upon hearing about the tornado, we first checked to ensure that all of our associates in the area were OK, and then we immediately focused our attention on the community and how we could help,” said Ray Ferrara, manager of emergency operations for Wolseley’s North American Division.
The tornado that hit Suffolk, Va., caused more than $18 million in damage, according to the company. The tornado cut a 25-mile path through residential areas, and more than 200 people were injured during the tornado, “which also damaged scores of businesses and downed dozens of trees and power lines.”
Stock currently operates 302 locations in 34 states, while Ferguson operates more than 1,400 service centers in all 50 states.
Lumber Liquidators in Nascar sponsorship
Lumber Liquidators, the Toano, Va.-based hardwood flooring retail chain, has announced its first Nascar Sprint Cup sponsorship, to debut at the Coca-Cola 600 on May 25.
The retailer will sponsor Travis Kvapil and his Yates Racing Team — car number 28 — at the event, set for Lowe’s Motor Speedway in Charlotte, N.C.
“Nascar fans are great supporters and customers of Lumber Liquidators, and we are always interested in opportunities with the Sprint Cup Series,” said Tom Sullivan, CEO of Lumber Liquidators, in a statement. Sullivan added that Lumber Liquidators has had a “successful history” sponsoring Nascar’s Craftsman Truck Series.
According to Nascar, Kvapil currently is ranked 18th in Nascar driver point standings.
Lumber Liquidators operates more than 130 specialty stores in the United States, selling solid and engineered flooring materials.