Hackett buys P&L Products
ST. LOUIS--Hackett Security, a regional systems integration firm based here, with nationwide monitoring accounts, announced last week the purchase of P&L Products, a systems integrator based here specializing in video imaging, time and attendance and access control. Terms of the deal were not released.
Emphasizing P&L's reputation for serving the security needs of dozens of local businesses and schools, primarily through badging and identity management, Hackett chief executive officer and president Michael Hackett said, "This is kind of a different acquisition for us," in that the acquisition was more for P&L's capabilities than its contracts.
"We had requests for identity management solutions," Hackett said, "and that's what pointed us to this end of the industry. Visitor management has really been requested a lot. Everyone wants to know who's in their building at any given time."
Hackett added three P&L employees to the payroll, including John Rippy, who'll run the graphics department, allowing Hackett to capitalize on P&L's work with high resolution digital imaging.
ID cards, Hackett noted, "have become a little bit more technologically advanced than just a logo on a card; you've got holograms, watermarks, all kinds of things." P&L's relationships with Fargo, Datacard and Polaroid would be important going forward, he said, especially as Hackett looks to expand its badging and identity management-as-a-service business.
P&L comes with an internal division called the Service Bureau, which handles all of an end users badging and identity needs, taking in digital photos and overnighting badges as the need requires, and managing permissions remotely.
"It's a nice recurring revenue model," Hackett said, "because it always keeps you with the customer, and the more he sees of you, the more he sees what you're able to provide him."
In addition to headquarters here, Hackett operates branch offices in southern Missouri; Alton, Ill.; and Chicago.