Henry Bros, Securus become one
SADDLE BROOK, N.J.--With more of its commercial security customers requiring a financial guarantee on large-scale installation projects, systems integrator Securus Inc. has joined up with Henry Bros. Electronics for those resources.
The two systems integrators, who are both members of PSA Security Network, came together in early October when Henry Bros. Electronics bought the Colorado security integrator for an undisclosed price.
"We're seeing more and more requests for bonding jobs," said Jeff Marcus, president of Securus. "It used to be that we would have one or two a year. Now we see a couple of dozen."
While Securus had the resources to issue bonds for its jobs, its bonding capability was limited as a small company. The two-location company, with branches in Denver and Colorado Springs, reports annual revenues of $5 million and employs 30 people.
For Henry Bros. Electronics, the acquisition is the company's first purchase of a systems integrator in three years. It enables the company to branch into a new geographical area and also serve Denver's mass transportation business, which is a focus for the business.
For more on this story, see the November issue of Security Systems News.