Lowitt expands in Long Island
HICKSVILLE, N.Y.--Lowitt Alarms, a full-service alarm company with a monitoring facility, acquired IPS Security, an installing dealer, at the beginning of May. IPS, based in Baldwin, N.Y., has had its accounts monitored at Metrodial, Lowitt's sister monitoring company, since the 1980s.
Terms of the deal were not disclosed. However, the purchase will add 1,100 accounts, predominately residential, with RMR in the excess of $35,000, said Andrew Lowitt, vice president of dealer relations.
Geographically, the buy offered compatibility, as both companies are headquartered on Long Island.
"It was a natural fit," Lowitt said of the purchase. "[IPS owner William Edelman] was looking to exit the installation part of the business. He approached us and we actually spoke with him for two years."
With the added accounts, Lowitt Alarms will reach a greater portion of the Island. The company will also tap further into the fire installation market, thanks to IPS, which was very active in that business.
"We had the capabilities, but elected to sub-contract those out," Lowitt said. "But now we will actually be doing everything in house."
Added to the company's line up will be an in-house fire planning and drafting employee to design fire systems. IPS also brings field technicians, installation mechanics and a customer support person.
Merging the accounts on the monitoring side was seamless. However, Lowitt said, "From an organizational standpoint there were a lot of folders to assimilate." He predicts that the full integration will be completed in a month's time.
The company will continue to seek regional acquisitions.
"It's nice because we have a wholesale relationship with many installing dealers on the Island. And when they are getting ready to retire or exit the business they are comfortable with us. So they approach us and they know that we will take care of their customers," Lowitt said.