Doyle buys in Syracuse
ROCHESTER, N.Y.—Doyle Security Systems, based here, today announced it acquired all of Murphy’s Alarm and Lock’s monitored accounts, based in Syracuse, N.Y.
“We’ve had a longstanding plan to expand within our footprint in Central and Western New York and so, that continues to progress with this acquisition,” John Doyle, Jr., company president and CEO, told Security Systems News.
The purchase added about 100 accounts, which are 60 percent commercial and 40 percent residential, and 2,500 in RMR to the company. “It’s a really nice company in Syracuse and folds in very nicely to our Syracuse office,” Doyle said.
Financial terms of the deal were not released.
This is Doyle’s first acquisition in the Syracuse market since 1996. “We’re always on the lookout for opportunities that are going to be a good fit, and nothing else ever materialized there," Doyle said. "But, this one came along and we’re very excited about it."
Murphy’s Lock and Alarm is exiting the alarm business, but will to operate a safe and lock business.
Doyle said that the company has a couple of prospective acquisitions that it hopes to close on before the end of the year.