ADS set to focus on growth
NASHVILLE, Tenn. - In a move designed to transfer more manpower on acquisitions, ADS Security has restructured its upper management team with the promotion of Ed Pedersen to senior vice president of branch operations.
The move shifts day-to-day operations away from company President Mel Mahler who, along with Vice President of Corporate Development Hugh Devereaux, will center efforts on the companyÃ¢â‚¬â„¢s acquisition portfolio. Although Mahler has shifted gears, he will continue to oversee seven ADS locations, while the remaining five will report to Pedersen.
The company has a strong acquisition history having acquired 13 companies since its inception in 1989. It has also procured170 fold-in account purchases.
Mahler stated that the company currently has four letters of intent in the works, but could not comment specifically due to confidentiality agreements. The companyÃ¢â‚¬â„¢s most recent acquisition occurred in March 2003, when ADS added 15,000 accounts acquired from Fox Alarm Co. in Birmingham, Ala. Fox was the second largest independent dealer in Alabama, next to ADS.
The company has seen strong signs of positive growth over the past two years. Recurring net growth was up 21 percent from 2002 to 2003, while the companyÃ¢â‚¬â„¢s internal growth increased 16 percent last year.
Ã¢â‚¬Å“[Our success] is a combination of the 14 years weÃ¢â‚¬â„¢ve been in business, half internal revenue sales and half acquisitions,Ã¢â‚¬Â said Mahler.
Mahler, along with Ped-ersen, expects business to continue its current upward swing. Pedersen will play a large role in this, as he will continue his previous role as senior vice president of sales and marketing.
According to Pedersen, the companyÃ¢â‚¬â„¢s recent achievements would not be possible without a specific focus, which is customer service and quality control.
Ã¢â‚¬Å“In our industry the successful ones do the everyday blocking and tackling,Ã¢â‚¬Â Pedersen said.
ADSÃ¢â‚¬â„¢ business plan also calls for waiting until new products are proven in the market before offering them to its customers.
Ã¢â‚¬Å“We let bigger companies experiment with technology and when things start to catch on in the public eye, then we start selling it.Ã¢â‚¬Â
As access control and closed circuit television have made substantial headway into the security market, ADS expects to garner more work in both of these areas.