Revenue Growth in Fire Services
Net sales achieved $47.6 million, representing a 4% year-over-year increase, driven by a 31% increase in fire services products.
Strategic Acquisitions
Acquisitions of California PPE and Arizona PPE expanded the global fire footprint into the U.S. market, adding approximately $5 million of annual recurring revenue.
Contract Award in Hong Kong
Lakeland LHD was awarded a USD 5.6 million 3-year contract to provide services for the Hong Kong fire services department, underscoring a strong presence in the Asia Pacific market.
Sale and Leaseback Transaction
Completed a $6.1 million sale and partial leaseback of the Decatur, Alabama warehouse, resulting in a gain of $4.3 million and strengthening the balance sheet.