Dealers to gain access to cash
First time Dispatch Center offers program
STAFFORD, Texas - In the first deal of its kind for the firm, Sweetwater Security Capital has partnered with San Antonio-based Dispatch Center to provide up to $10 million in financing in the next 12 months to theÃ‚Â central stationÃ¢â‚¬â„¢s dealers.
Sweetwater intends to provide all of the $10 million in the first year of the program to acquire accounts, and use an undisclosed amount of money in future years. The funds are available for dealers who seek to scale their businesses either through growth financing or restructuring.
Ã¢â‚¬Å“Our role is to support dealers by buying these accounts and providing management consulting,Ã¢â‚¬ÂÃ‚Â saidÃ‚Â Donald Bresina,Ã‚Â chairmanÃ‚Â of Sweetwater Security Capital. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re looking for people looking to grow their business and not exit.Ã¢â‚¬Â
Dispatch Center is a UL-listed central station that has a business relationship with 150 dealers, monitoring approximately 35,000 accounts. Its services cover fire, burglar, video and two-way communication.
Ã¢â‚¬Å“With the Sweetwater deal, we got the right package to make dealers grow and not just be a flash in the pan,Ã¢â‚¬Â said J.D. Benfer, vice president of marketing and customer relations for Dispatch Center.
Suitable dealers for Sweetwater, according to Bresina, include those with a sizable portfolio and a drive to install a steady amount of systems per month. He, specifically, did not elaborate on the business make-up of potential dealer partners.
Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re looking for dealers who really know how to sell and install alarms to good customers,Ã¢â‚¬Â said Bresina.
Through the partnership, Sweetwater does not intend to siphon off the central stationÃ¢â‚¬â„¢s customers. It sees this program as a long-term partnership between the two companies, said Bresina. However, the deal does not lock Sweetwater into Dispatch CenterÃ¢â‚¬â„¢s services, indefinitely.
Ã¢â‚¬Å“Our intention is for Dispatch Center to continue to monitor these accounts,Ã¢â‚¬Â said Bresina. Ã¢â‚¬Å“If we find the need to move them somewhere else, we can do that.Ã¢â‚¬Â
Moving forward, the firm will consider partnering with other central stations located either in Texas or elsewhere.
However, Bresina declined to discuss these plans in detail.