COLUMBIA, MARYLAND: LB&B Associates Inc., the diversified services company operating in over twenty five states, the District of Columbia, and overseas locations, announces that on February 28, 2017, an agreement was reached with Brekford Corp., a leading public safety and security technology service provider of fully integrated automated traffic safety enforcement solutions, to finalize the sale of 80.1% of Brekford Crop.’s vehicle services business to LB&B Associates Inc. (“LB&B”). The result is the formation on March 1, 2017, of a new entity known as Global Public Safety (GPS). Brekford retains ownership of 19.9% of GPS as a minority member.
GPS is positioned for significant expansion of its public safety solutions business under the leadership of LB&B. With an ongoing minority interest in GPS, Brekford will also assist in whatever manner requested to help that business flourish.
Deal Is Consistent with Earlier Merger Agreement
The sale is in keeping with a definitive merger agreement signed between Brekford and Keystone Solutions, Inc. (“Keystone”) on February 10, 2017, which included a condition that Brekford was required to sell its vehicle upfitting business to a company with the resources to grow the business nationally.
LB&B, in business since 1992, currently operates nationwide, providing diversified services such as facilities management, logistics, transportation, warehousing and distribution, security, simulation systems support and training, and base operations support for both federal government and private sector clients. Key LB&B customers include the U.S. Navy, Air Force, Army, Marine Corps, GSA, National Archives, CMS, and DHS.
Brekford Corp. Known for Innovative, Longstanding Commitment to Public Traffic Safety
Brekford Corp., headquartered in Hanover, Maryland, provides state-of-the art automated traffic enforcement solutions to municipalities, and other public safety agencies throughout the United States. Its services include automated speed, red light, and distracted driving camera enforcement programs. Brekford’s combination of automated traffic enforcement services with a longstanding background and foundation in public safety solutions offers a unique 360-degree solution for law enforcement agencies and municipalities. Its common stock is traded on the OTC Markets under the symbol “BFDI.” Additional information on Brekford can be accessed online at www.brekford.com.
For more information please call (301) 596-2440, send us a fax at (301) 596-7879, or send us an e-mail.