GlobalSecure Holdings Ltd, a consolidator of homeland security product and service companies, has acquired HazTrain Inc, a Maryland-based training company providing weapons of mass destruction (WMD) and hazardous materials management training. Cost of the transaction is $4.2 million.
HazTrain was founded in 1983, and for more than 20 years, the company has met the expanding need for environmental health and safety training and provided specific problem-solving expertise for the hazmat management industry. The company is expanding to include providing WMD training services for the homeland security market. Its clients include both large and small companies and government agencies, primarily the Department of Defense and the Department of Justice.
The company has a dedicated staff of 35-plus instructors. The company was recently awarded a Department of Justice contract to provide WMD forensics training for the Federal Bureau of Investigation.
GlobalSecure acquired HazTrain for $4.2 million, using a combination of cash, securities, and assumption of debt. As a result of this acquisition, GlobalSecure has promoted Tim Czysz, vice-president and chief operating officer of HazTrain for the past five years, to president. Craig Bandes has been named chief executive officer of the company.