DOWNERS GROVE, Ill. -- Sentinel Technologies Inc., a private holding company headquartered in Downers Grove, Ill., has acquired all of the operating assets of Tidel Engineering LP in a management-led buyout effective Sept. 30, 2006.
Carrollton, Texas-based Tidelwhich designs and manufactures products for cash security and robbery prevention, as well as for retail cash managementwill continue to be led by Mark Levenick, president and CEO of Tidel since 1993. The management team will also consist of Flynt Moreland, executive vice president of engineering, [image-nocss] a 16-year Tidel veteran; Troy Richard, executive vice president of operations, a six-year Tidel veteran; and new hires Ed Grondahl, vice president of sales and marketing, and Jeff Galgano, CFO.
Grondahl has had a 30-year career at NCR Corp. At Tidel, he will be responsible for global sales and marketing, as well as all phases of business development. Dayton, Ohio-based NCR acquired Tidel's automated teller machine (ATM) assets in January.
Galgano formerly was with Stifel, Nicolaus & Co. and A.G. Edwards & Sons. At Tidel, he will also be responsible for the company's merger and acquisition activities.
In other company news, Tidel will be demonstrating six new products at NACS 2006 in Las Vegas this week:
The Bulk Coin Dispenser (BCD). This new design of the Sentinel platform has up to eight bins for bulk coin dispensing in any amount and in global denominations, and replaces tube dispensing of rolled coins. The Sentinel Cash Recycler. Features the ability to recycle bills that have been entered via the bill validation system. This ability allows the store to inventory less operational daily cash balances. The Stand-Alone Cash Depository (SCD), Features dual bill validators and advanced reporting functions that provide a variety of reports and summaries by cashier. The SCD is designed for multi-lane stores interfaced to just one Sentinel. The TACC III. Replaces the dependable TACC Cii and features the ability to allow multiple user tracking via a new PIN-based touchscreen interface. The TACC V. Replace the TACC IV and features the ability to allow multiple user tracking via a new PIN based touchscreen interface with bill validation. The B-Rated Safes. Feature a single or dual mailbox drop door and various locking mechanisms. Tidel offers more than 15 B-Rated safes in virtually any size and color.
Tidel will also be presenting a demonstration of the 7-Eleven POS program working with the Tidel Sentinel platform. It will show how the POS device is controlling all Sentinel functions for bill validation, dispensing cash, tracking deposits of cash, food stamps, damaged bills, checks and more. The Sentinel is capable of being networked with thousands of other stores to the 7-Eleven datacenter in Dallas, Tidel said.
The Tidel Sentinel products come with a one-year parts and 90-day labor warranty, and are supported by Tidel's 24-hour, seven-day customer service center. The TACC units offer two-year parts and labor warranty. All new Tidel products are RoHS compliant.
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