Schwab employs 105, including 80 at its manufacturing plant in Cannelton. In addition to safes, the company makes files, cabinets and vault doors.
SentrySafe makes residential and small office security-storage containers.
Schwab will become a subsidiary of SentrySafe. Schwab's products will be expanded into markets already occupied by SentrySafe, SentrySafe executives said in a statement.
Founded in 1930, SentrySafe has 600 employees and distributes its products to more than 50 countries as well as at retailers including Wal-Mart, Target, The Home Depot and Lowe's.