American Alarm gets Riel
ARLINGTON, Mass.--American Alarm added density in southern New Hampshire with the acquisition, announced Oct. 21, of Windam, N.H.-based Riel Security.
Ã¢â‚¬Å“[This area] offers significant growth opportunity,Ã¢â‚¬Â said Lou Sampson, CFO and COO of American. American has between 15,000 and 16,000 monitored accounts; this acquisition adds another 1,000.
Ã¢â‚¬Å“ItÃ¢â‚¬â„¢s a high-quality company with an account mix thatÃ¢â‚¬â„¢s similar to ours, 50/50 residential/commercial, with a significant portion of the commercial being high-end, complex integrated systems,Ã¢â‚¬Â Sampson explained. The commercial accounts also include Ã¢â‚¬Å“quite a few regional multiple-location accounts,Ã¢â‚¬Â a specialty of American Alarm.
Also as a result of the deal, Sampson said, Ã¢â‚¬Å“we are planning now to get more involved with the Honeywell First Alert Professionals program.Ã¢â‚¬Â Riel has been a First Alert dealer; American has not been, previously.
Former Riel Security owner, Bruce Riel, will stay on in a leadership role, and Ã¢â‚¬Å“all of the other employees who wanted to stayÃ¢â‚¬Â (five total) will join AmericanÃ¢â‚¬â„¢s staff of 135.
Ã¢â‚¬Å“You tend to find the customer base is stable when the owners stay on,Ã¢â‚¬Â Sampson said. Ã¢â‚¬Å“That appealed to us.Ã¢â‚¬Â
As part of the deal, American moved its southern New Hampshire operation, previously based in Manchester, N.H., to the Windham offices of Riel Security.
American Alarm has made Ã¢â‚¬Å“about 10 acquisitions of various sizes since 2003,Ã¢â‚¬Â Sampson said. Its strategy is to acquire companies with the same account quality, geographic footprint (New England), and areas of business that American is interested in growing, including Ã¢â‚¬Å“residential, commercial, especially integrated systems on the commercial side, and fire.Ã¢â‚¬Â
Acquisitions are Ã¢â‚¬Å“especially attractive,Ã¢â‚¬Â Sampson said, if theyÃ¢â‚¬â„¢re located near one of AmericanÃ¢â‚¬â„¢s four offices: in Randolph, Auburn or Arlington, Mass., or in Windham, N.H.