Another firm scooped up
BOSTON - Traditional security company Ultraguard Protective Systems has bought one of the cityÃ¢â‚¬â„¢s oldest U.L. central stations and an alarm company that has been in business since the late 1950s.
The early December acquisition of Congress Alarm Company represents UltraguardÃ¢â‚¬â„¢s largest acquisition in terms of revenue and number of accounts. The purchase price and size of Congress Alarm was not disclosed, but Jim Baker, president and owner of Ultraguard in Woburn, Mass., characterized it as doubling the size of the company.
Ã¢â‚¬Å“It brings us some very good employees and managers,Ã¢â‚¬Â said Baker, whose company now employs 75 people. Ã¢â‚¬Å“And, it brings us some very high quality accounts on the commercial side.Ã¢â‚¬Â
The name of the former owner of Congress Alarm, who is no longer with the company, was not disclosed in the acquisition announcement. But according to industry sources, several former employees of ADT owned Congress Alarm.
TheÃ‚Â transactionÃ‚Â marks UltraguardÃ¢â‚¬â„¢s second deal in less than a yearÃ¢â‚¬â„¢s time. It bought B and T Security and Safety Systems in 2003. After that purchase, Ultraguard employed 55 people and expected sales to reach $5.5 million in 2003 with $100,000 in monthly recurring revenue.