Compass Diversified Holdings, based in Westport, Conn., said Thursday it has acquired Liberty Safe and Security Products Inc., based in Payson.
Compass paid about $70 million for Liberty and about $1.5 million in expenses associated with the transaction. It acquired about 96 percent of the company.
Liberty, founded in 1988, designs, manufactures and markets home and gun safes in North America. They are marketed under the Liberty brand and licensed and private-label brands. It reported 2009 revenues of $73.8 million.
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Jeff Talley, Liberty's president and chief executive officer, will continue to serve in those capacities.