Bates Security acquires ABCO Security

First buy following $10m credit facility allows company to expand into Eastern Kentucky
Wednesday, February 21, 2018

LEXINGTON, Ky.—Bates Security, a commercial and residential security company based here with a branch in Florida, announced this week the recent acquisition of Eastern Kentucky-based ABCO Security from company founder Robert Welch. 

This is Bates Security’s first acquisition following the $10 million credit facility it secured at the end of October from Capital One. With the acquisition, Bates Security will be adding more than 1,650 customers to its customer base.

Jeremy Bates, president of Bates Security, said the two companies are a perfect match because both are family owned and operated businesses and leading Honeywell Authorized Dealer companies. 

“ABCO Security and the Welch family have a great reputation and customer base that will bring a lot of excitement and continued success to the Bates Security family,” Bates said in the announcement.  “I have known Robert and his company for many years now and have always admired what he and his team have been able to build. I am very excited they are now part of our team.”

Bates Security is keeping all 11 ABCO Security office and technical employees and welcomes them into the Bates family. Tim Welch, Robert Welch’s son, will be the general manager of the Eastern Kentucky office.

“I’m happy Bates Security will now be managing the operations,” Robert Welch, ABCO Security founder, said in a prepared statement.  “Their brand travels far and wide and I have no doubt they will take ABCO to places I never imagined. We have been fortunate in our success and I look forward to what Bates can bring to the table. I have no doubt our customers are in good hands.”

Bates told Security Systems News that this acquisition “allows us to expand our presence in Kentucky and enhance our standing as the leading and largest privately owned security company in Kentucky. The ABCO office is over two hours from our main office in Lexington so we will be maintaining their office and expect to develop strong synergies between the two locations that will allow us to provide the best service possible to our customers.”

While ABCO Security has a strong presence in Eastern Kentucky, Bates added, “There is a lot of untapped potential to further increase their market penetration and steps are already being taken to ramp up their sales efforts and grow the office. ABCO also has a solid group of employees who we are excited to welcome into the Bates Security family and they are equally excited with the growth opportunities we are going to help them realize as we work together going forward.”