ROCHESTER, N.Y.—Doyle Security Systems, a full service provider based here, on June 7 acquired the alarm accounts of Albany, N.Y.-based Wolfe Safe & Lock Co., also known as Wolfe Security. The acquisition, Doyle’s fourth in the area since it entered the market in 2012, adds 700 accounts to the company’s base.
“It’s a very complimentary account base to what we currently do. It fits in really well with our core area of expertise, which is small to mid-sized businesses and higher-end residential accounts,” Jack Doyle, the company’s business development manager, told Security Systems News. Financial terms of the deal were not disclosed.
Wolfe’s account base is 70 percent commercial and 30 percent residential. Wolfe will continue to maintain its safe and lock business.
“Geographically, it’s a great fit because we don’t need to open up a new base of operations, it can ‘tuck in’ to our existing operations. Though, we probably will slightly expand our personnel in Albany to service this new base of clients,” Doyle said. “It’s a very strategic purchase for us.”
Rochester is the company’s biggest market, followed by Buffalo, N.Y., as its second largest, and now Albany is a close third. “This most recent acquisition puts Albany very close to being our second highest concentration of accounts,” Doyle said.
Growing the company’s presence in Albany is a key focus for Doyle Security, Doyle said. “We really like the Albany market. It’s shown some pretty strong growth over the past five years,” he said. “We feel pretty bullish about the opportunity for Doyle in that marketplace.”
Doyle Security is “Always on the lookout for an account base that would fit nicely and complement our existing business,” Doyle said.
Doyle Security first entered the Albany market in 2012 with the simultaneous mergers of JMS Alarms and LPE Security & Fire Alarm Systems. In 2016, Doyle Security acquired Albany Protective Services, making them one of the largest security dealers in the region by account volume.
“We are very excited about getting together with Wolfe Security. Since 1933, they have built a great company by providing excellent service and building strong relationships with their customers.” Doyle Security president and CEO John G. Doyle Jr. said in the purchase’s announcement. “Our two companies have so much in common and we are well positioned to build on their strong legacy of quality.”Topic: Commercial and Systems Integrators Tags: Doyle Security Systems, Wolfe Safe & Lock Co., Jack Doyle, John Doyle