ASG acquires in North Carolina
LAS VEGAS--Calling it an acquisition that "falls into our sweet spot" ASG Security chief executive Joe Nuccio on April 2 told Security Systems News it had acquired Landtronics of Charlotte, N.C.
"The former owner Roger Landis is retiring ... he had deep industry experience and had built a great business with tremendous customer service. For us, it's the perfect model acquisition," Nuccio said.
Landtronics brings with it $43,000 in RMR and 1,800 accounts. Roughly 65 percent of the accounts are commercial. ASG closed on the deal March 14, and accounts have already been integrated into ASG's Charlotte operation. Rory Russell of Acquisition & Funding Services represented the seller in the deal.
Nine employees from Landis have joined ASG, and Nuccio noted that those employees boost ASG's commercial expertise in this geographic area.
This marks ASG's fourth acquisition in 2008 and its 42nd overall. "It sounds like a lot, but we're really not an 'acquisition company'," Nuccio said. "Fifty percent of our growth comes from organic growth and 50 percent from acquisitions," he said.
And despite a slowing economy, ASG had "a record January and February and those months are typically kind of slow," Nuccio said.
ASG's acquisitions of smaller, well established companies like Landtronics, as well as diverse companies with specific expertise--such as in the government vertical (Accutech in Washington D.C.) or the fire vertical (Abbott in Dallas)--in well defined geographic regions is only part of the recipe for building a super regional security company. The other part, said ASG's chief financial officer Ralph Masino, is "getting the acquisitions on the same platform so they have the same processes, procedures, and systems...that's a key factor, that way [the company] can focus on sales and service."