InterTECH acquires E-Quip
WARRENDALE, Pa.--InterTECH, a privately held security systems integrator based here, announced this week the acquisition of E-Quip, an integrator based in Frederick, Md. Terms of the deal were not released, but InterTECH vice president of sales and marketing Matt Petnuch said E-Quip completed roughly 400 projects last year, working largely in the financial, municipal and correctional verticals.
Added to InterTECH's 1,000 completed projects, the two integrators' combined revenues for 2006 approached $19 million, he said. Petnuch also reported 30 percent growth for InterTECH in 2006. E-Quip's 30 employees will be added, in total, to InterTECH's 115, "and we're actively looking to hire." E-Quip founder Robert Cannon, who started the company in 1994, will remain as vice president of sales and marketing for InterTECH Maryland.
"What attracted us to [E-Quip] was really two-fold," said Petnuch. "Their basic business philosophy is very similar to ours, focusing on the customer, and second was the office in Frederick. Plus, their primary markets were ... areas we have not been active in, and that will help us grow our product offering." He said InterTECH's Frederick office, which opened in the fall of 2005, will move into the former E-Quip offices, and InterTECH expects to grow quickly in the Baltimore/Washington area.
InterTECH, which merged with Lifelink Security and Premier Security in late 2005, is actively pursuing other acquisitions. "We'll work with companies that have a similar philosophy to ours. We want to be innovative, on the cutting edge of technology, and utilize that technology to help our customers solve their problems. And companies that are committed to their employees--we want them to know that this is a place where they can grow, too."
InterTECH is nearing completion of a new monitoring center that will have the capacity to serve roughly 50,000 accounts. Petnuch said it should be operational by the end of the first quarter.