Infrastruct enters Golden Triangle
HOUSTON - Infrastruct Security announced in early March the acquisition of Patriot Security Systems, of Beaumont, Texas, thereby planting a flag in the area known as the Ã¢â‚¬Å“Golden Triangle,Ã¢â‚¬Â an area of Texas rich in petrochemical plants. This continues InfrastructÃ¢â‚¬â„¢s goal, said chief executive officer Dan Weiss, of obtaining a dominant position in the regulated security market, particularly that market that must abide by the recently passed Chemical Facilities Anti-Terrorism Standards regulations, which mandates security measures at chemical facilities.
Ã¢â‚¬Å“This is something thatÃ¢â‚¬â„¢s affecting 7,000 chemical facilities,Ã¢â‚¬Â Weiss said, Ã¢â‚¬Å“and IÃ¢â‚¬â„¢ve never done a facility for less than half a million dollars. So say the average market rate is $.5 million to $1.5 millionÃ¢â‚¬â€thatÃ¢â‚¬â„¢s a $3 to $7 billion market in the next three years, that we now own the corner lot on. Sixty to 70 percent of that market is right here in our backyard.Ã¢â‚¬Â Infrastruct headquarters are based here, and the company has in the last 18 months acquired Dowley Security, Monarch Security, and Kimmons Security, leaving it with offices in Phoenix; Tulsa and Oklahoma City, Okla.; Lafayette, La.; and a number of smaller locations all geared toward dominating the petrochemical vertical in the southern United States.
Weiss called his current locations Ã¢â‚¬Å“triangle one.Ã¢â‚¬Â He said the company is looking at expansion into areas including New Jersey, California, even the Middle East. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re looking for partnerships,Ã¢â‚¬Â he said, Ã¢â‚¬Å“forward-looking potential partners who can provide us with additional manpower and capital.Ã¢â‚¬Â
Patriot Security brings 15 employees, 1,500 customers and a Ã¢â‚¬Å“nice piece of RMR,Ã¢â‚¬Â said Weiss, all of which was being monitored by a third party, but will now be brought back to InfrastructÃ¢â‚¬â„¢s central station. Most important, he said, Ã¢â‚¬Å“What theyÃ¢â‚¬â„¢re bringing is the clients that are being impacted by CFATS; thatÃ¢â‚¬â„¢s the thing that we got into. We probably have more clients that will be impacted by CFATS than anyone in the United States.Ã¢â‚¬Â
Kent Dillow, president of Patriot Security, will remain on board as general manager of the Beaumont branch; DillowÃ¢â‚¬â„¢s wife Kim will continue to run Patriot Security Ltd., a guarding operation. Weiss said he was interested in collaborating with a guard firm like Patriot, but he didnÃ¢â‚¬â„¢t want to own one. Ã¢â‚¬Å“TheyÃ¢â‚¬â„¢ll make a margin,Ã¢â‚¬Â he said, Ã¢â‚¬Å“when the customer pays them $10 an hour. I donÃ¢â‚¬â„¢t think I know how to do that.Ã¢â‚¬Â SSN