ASG enters new region
BELTSVILLE, Md.--ASG Security rounded out its tri-state region and expanded into a new market with its acquisition of Techtronics Security Company, a commercial security company in Sellersville, Penn.
The deal, signed Oct. 3, is the 21st transaction in the last 20 months for this large regional security company. Financial terms were not released. ASG has offices here and in Texas.
The purchase extends ASG's reach northward beyond the Maryland, New Jersey, Delaware area into Pennsylvania.
Joe Nuccio, president of ASG said his goal is to triple the size of this region within two to three years. ASG currently has 9,000 accounts in this region.
Techtronics, which does CCTV, fire, alarms and access control, brings $68,000 in recurring monthly revenue. In business since 1992, Techtronics is a small company that focuses on high-end systems.
It successfully competed against larger security companies to score accounts with large commercial and industrial facilities, such as Herr's Foods, Bayer Pharmaceuticals, Tasty Baking Company and Sheraton International.
"It's not easy for a local company to win those accounts," said Nuccio.
Former Techtronics owner Steve Ibach had two priorities when selling the business.
"It was important to us that the new owner take care of our employees and our customers," Ibach said. "We're happy that they want to take our operation and grow it, the way we were trying to do, by continuing to add customers one at a time through the sales process--as opposed to just buying the company for the accounts and revenue.''
Nuccio intends to help Techtronics grow its commercial operations. Adding a residential division to Techtronics is a likely next step, making it more like other branches ASG owns.