ASG acquires in Capitol region
By Martha Entwistle
Updated Thu January 1, 2009
BELTSVILLE, Md.--ASG executives say the Jan. 28 acquisition of Tenn Security makes them "extremely formidable" in the Baltimore-Washington area in terms of integrated systems ability.
The acquisition adds $136,000 of RMR, 30 employees and an expertise in fire, CCTV, card access and burg. "It's exactly what we define as a perfect ASG acquisition," said Joe Nuccio, ASG CEO. "It's a really strong, stable company ... built by [former owner] Bernie Tenn over 30 years, and it has a wealth of talented employees."
Ralph Masino, ASG CFO, described the account base as a "blue-chip commercial base consisting of property management companies and high-end commercial accounts."
Tenn sold the company, which is based in Rockville, Md., because he is retiring. All of the other employees, including Tenn's son, will join ASG.
The Baltimore-Washington branch of ASG represents "more than $1 million in recurring rate," Nuccio said. Recent acquisitions in this region include Choptank Security Systems of Denton, Md., and Accutech Systems of Rockville, Md. The addition of Tenn Security's expertise and resources, particularly in fire, will make the Capitol area branch a "commercial powerhouse," Nuccio said.
Comments