Commercial firm buys into N.Y. homebuilding market
VALLEY COTTAGE, N.Y. - A security company heavily into commercial work has bought into the home building market with the acquisition of a local residential firm.
With its purchase of Pro Tech Security Systems, Inter County Alarm Systems now serves about 5,200 accounts in Rockland County, an area where the two companies were once friendly competitors, said Earl Lorence, vice president and founder of Inter County Alarm.
Ã¢â‚¬Å“Pro Tec does a lot of residential prewiring in new homes, and has a lot of contact with the builders here,Ã¢â‚¬Â according to Lorence. Ã¢â‚¬Å“Our specialty was more commercial.Ã¢â‚¬Â
Bringing Pro Tec and its builder relationships into the fold not only substantially grows Inter CountyÃ¢â‚¬â„¢s residential base but also opens a new window of business for the company, both in a new market sector and in a new geographic location.
While the booming new home market in Rockland County has become saturated, now building has stepped up in rural Orange County, where builders are gobbling up vacant land, Lorence said.
The combined company, with a commercial base of about 1,500 customers and a now more substantial base of 3,700 residential accounts, will be based in Inter CountyÃ¢â‚¬â„¢s 4,500-square-foot building here, which the company owns. Pro TecÃ¢â‚¬â„¢s four employees have also joined Inter County to make a staff of 20, said Scott Lorence, president of Inter County. The purchase price of Pro Tech was not released.
Ã¢â‚¬Å“We are actively seeking to do more acquisitions, mostly in the areas we predominately serve,Ã¢â‚¬Â Scott Lorence said. The company also covers northern New Jersey and Westchester County.