UNION, N.J.—Supreme Security Systems, a regional security company based here, has acquired Homeguard Alarm Systems, based in Fair Haven, N.J., and CWR Security Systems, Inc., a residential, commercial and industrial security company with more than 30 years of experience serving Monmouth and Ocean counties in New Jersey.
Terms of the deals were not released.
“This is somewhat of a milestone for us because after taking care of some things in-house, and improving operations and the way we do things, we have positioned ourselves so we can now be able to do acquisitions again and take on additional accounts,” David Bitton, COO of Supreme Security Systems told Security Systems News. “Here [with Homeguard] we are adding just south of 500 accounts, which are mostly residential, and we had no need to change any staffing whatsoever, so it is a complete fold-in for us.”
With improved infrastructure and backing from The PrivateBank, Bitton said that Supreme was in a good position to make the second acquisition. For that deal, “We will be adding about 1,000 accounts, and some of the ownership and employees will be joining Supreme as well,” he said.
Barry Gulino, the former president of CWR, will be joining Supreme as senior account manager. Gulino brings expertise and a familiarity with Point Pleasant, Brick, Red Bank, Sea Bright and many other locations on the Jersey Shore to Supreme.
Bitton noted that Supreme’s affiliation with NetOne has helped him to navigate the often-challenging acquisition process. “We are a shareholder in NetOne, so I have been able to draw on the collective knowledge base and experience within the group to get some key tips on doing acquisitions, especially from some of our shareholders who do larger acquisitions and/or with greater frequency than us.”
Homeguard Alarm Systems customers will experience no interruption in their alarm monitoring service, and none of the changes associated with the transition will affect the operation of the alarm systems. Homeguard Alarm Systems customers can use the same pass code, cancel code and testing procedures that they have in the past.
Supreme, which has been in business for 87 years, has more than 7,000 accounts and is at approximately $600,000 in RMR, according to Bitton. Accounts are 60 percent residential and 40 percent commercial.
“The first quarter for 2016 has been very good,” said Bitton. “We are confident moving forward in 2016, in terms of both organic growth and growth through acquisition.”
Steve Rubin of Davis Mergers & Acquisitions Group assisted Homeguard in the sale.
Topic: Residential Tags: Supreme Security Systems, David Bitton, NetOne, The PrivateBank, Homeguard Alarm Systems