Installer catches a Marlin
WEST PALM BEACH, Fla.--Security Networks reeled in wholesale central station Marlin Central Monitoring in April, enabling the full-service installation firm to better control its own accounts and branch into third-party monitoring.
The Orlando, Fla.-based central station provides Security Networks with an immediate account base of 15,000 and a pool of approximately 100 dealers. The UL-listed central station is less than five years old and offers both alarm and video monitoring services.
Security Networks plans to fold in its 5,000 residential and commercial retail accounts into the central station as soon as possible, according to Richard Perry, president of Security Networks. Focused on the Southeast and based here, the company also operates a branch in Charlotte, N.C.
Serial entrepreneur Roy Speer, who founded the Home Shopping Network and owns a number of companies outside the physical security space, sold Marlin Central to focus on personal issues.
"Because we expect to grow our business dramatically over the next few years, we see it's important to control the central station function," Perry said. Perry, who declined to disclose the purchase price, has set a target of $2.5 million in recurring monthly revenue within five years.
Former Marlin President Barry Brannon will remain with the company in the role of vice president of business development. Brannon, who began his tenure early last year, joined Marlin with a mandate to grow the central station from a regional third-party monitoring firm to a national concern.
"I'm very pleased with the direction Rich wants to take the company," said Brannon. "We can now grow from third-party monitoring to providing dealers with capital and consulting services."
Since last year, Brannon has doubled the company's revenue and account base, as well as increased its footprint from five states to 38.
To oversee continued improvements at the central station, Paul Anderson joined the company in the role of vice president of operations. Anderson said his first projects include linking all of the company's offices onto one network, upgrading the station's IP-based services and creating a system that generates monthly reports for dealers.
"Security Networks will have a synergy of telephone systems and operating systems that will be unparalleled in our industry," he said. Anderson previously worked with Perry at Security Leasing Partners.
Existing customers of the monitoring firm should not expect to see any disruption of service, as a result of this deal. The central station will continue to operate as before, with the Marlin name, stated Perry.
"Our commitment is to maintain and offer whatever the latest state of the art technology our dealers require," he said.