Bates Security considers border crossing
LEXINGTON, Ky.—Full-service provider Bates Security, based here, is looking to organic growth but moving outside of Kentucky also “is a natural option for us,” Jeremy Bates told Security Systems News.
Bates recently acquired more than 1,500 accounts from Kentucky Alarm Services, also based here, providing “a significant addition” to the company’s RMR, he said.
“We just went over $400,000 last month organically,” he said. The Kentucky Alarm acquisition will add to that, he said, declining to provide further details.
The deal was a good fit because both companies are family owned and in the same area, he said. Bates will now have 56 employees.
Kentucky Alarm Services was owned by Ken and Sandy Duff.
Bates is the state’s largest family-owned and operated security company. It has made a number of acquisitions, but this one “is the first of our size,” Bates said.
“We’re open to more,” including outside of the state, he said. Kentucky borders seven states.
Founded in 1984, Bates’ customer base is 50-50 residential-commercial, with 70 percent of revenue coming from commercial. The company does security, video, fire protection, access control and life safety and environmental monitoring services.