LANCASTER, Pa.—Select Security, provider of security and life safety solutions for homes and businesses based here, on April 6 announced the purchase of several companies: Tennessee Valley Protection in Huntsville, Ala.; Southern Security Services in Nashville, Tenn.; Interactive Alarms in Nashville, Tenn.; Security Consultants in Memphis, Tenn.; and Alert Alarm Systems in Paducah, Ky.
"We are always looking for well run companies that want to be part of Select Security, especially in our newest areas where we can build a denser customer base and create additional efficiencies and excitement. The Southeast has many companies that are highly regarded by their customers and community, and would fit well with our core values," Steve Firestone, president of Select Security, told Security Systems News.
These acquisitions totaled about 6,000 accounts across the Southeast United States, bringing the company’s total number of customers to more than 80,000. The acquired companies varied in their respective focuses, but the newly acquired customers are together about 50/50 between residential and commercial customers, according to Firestone.
"Our total number of regional branch offices has reached 20, these acquisitions brought us offices in Nashville, Tenn., Memphis, Tenn., and Paducah, Ky," Firestone said. "Our total number of employees now stands at 350 company wide, these purchases brought us around 50 employees and new positions." The recently announced acquistions took place between October 2017 and February 2018, he said.
"The pace of the closings wasn’t surprising at all, we’ve always been an organization with an appetite to grow through acquisitions, and while we had to take a break for a few months while we digested the large AlarmForce purchase that went through last summer, we once again have the capacity to continue our fast growth plans," said Firestone
"We first entered Kentucky a couple of years ago with acquisitions in Bowling Green and the Louisville area, and have slowly added new branches over time. Our interest in the area has always been high, and once we completed our new credit facility, which has since been expanded again from $55M to $75M, we were able to accelerate our growth plans in the area," Firestone said.
Patrick Egan, Select’s founder and CEO, said in the announcement, “As we continue to accelerate our presence in the region, the addition of good customers and great team members to our family play a key role in our success.”
Egan continued, “It has been an honor continuing to build on the community trust and reputation that William Bastian (Tennessee Valley), Albert Barnes (Southern Security), Ben Hardesty (Interactive Alarms), Cecil Hogan (Security Consultants), and Deborah and Jeffrey Brandon (Alert Alarms) created through their years of hard work and dedication, and we are proud to have many of them or their teams as part of our organization.”
Select Security, founded in 2003, offers integrated security and fire alarms, video surveillance, access control, along with home security, life safety and home automation systems.
The company has multiple local offices across Tennessee, Kentucky, Alabama, Georgia, Florida, Pennsylvania, Ohio, Maryland, Virginia, Minnesota, West Virginia, Texas, New Mexico, North Carolina, and South Carolina.Topic: Residential Tags: Select Security, steve firestone, Patrick Egan, Tennessee Valley Protection, Southern Security Services, Interactive Alarms, Security Consultants, Alert Alarm Systems