ISR Solutions goes the way of Stanley
December 16, 2004
NEW BRITIAN, Conn. - Stanley Works continued to grow its systems integration business in December, buying one of the largest independent systems integrators to service the government market in a deal valued at $34 million.
ISR Solutions, which boasts 50 percent of its business as coming from the government market, is the latest to join Stanley Works. Other recent acquisitions for Stanley Works include Frisco Bay Industries in early 2004, Best Access, Blick and, most recently, Sargent & Greenleaf and The SafeMasters Co.
The acquisitions are all part of Stanley WorksÃ¢â‚¬â„¢ plans to build a $2-billion to $3-billion business and provides additional strength in the government market.
The deal comes after several months of industry speculation that Chantilly, Va.-based ISR Solutions, a $40 million a year company, was up for sale. The Carlyle Group owned the single largest interest in the systems integrator, coming onboard three years ago to provide additional capital to grow the business. Other investors included Fairfax Partners, Claneil Enterprise and ISR SolutionÃ¢â‚¬â„¢s founders.
For ISR Solutions, becoming part of the Stanley Security Solutions group provides the company with brand recognition. "Everybody in the United States has heard of Stanley," said Joe Costa, founder, chief executive officer and president and of eight-year-old ISR Solutions. "In the Security Solutions space, they have a much larger footprint than ISR. And it will benefit our clients with a national presence with better service."
It also extends ISR SolutionsÃ¢â‚¬â„¢ footprint significantly, by adding Stanley WorksÃ¢â‚¬â„¢ 50 field offices across the country to its base of 14.
For more on this story, see the January issue of Security Systems News.