Per Mar acquires Fast Alert
DAVENPORT, Iowa--In its third buy of the year, Per Mar Security Services has acquired Fast Alert Alarm & Security, of Altoona, Wisc. This adds 1,400 accounts and six employees. Terms of the deal were not released.
Operating in the burglar and fire alarm, CCTV and access control markets for 15 years, owner Jim Flater will now join Per Mar as electronic security general manager for the Eau Claire branch. The Fast Alert office will be shuttered, with the three installers, one office staff, and new Eau Claire operations manger Jeff Schafer moving over to the Per Mar offices.
With this buy, along with the addition of Cedar Rapids' A-1 Security in May, and Frederick's Electronics, of Hibbing, Minn., in Feb., Per Mar now employs more than 3,500 and operates a UL-listed central station monitoring more than 40,000 accounts.
Per Mar chief financial officer Dean Guyette agreed the company has been particularly active this year, but attributed that to opportunities presenting themselves in areas where the company already had offices. "We're probably more aggressive when they come into our own markets," he said. "We're always looking, but it's a more selective thing with us. If it's not in our market, we're not looking as hard."
Also, he noted, Davis Marketing Group helped facilitate the Fast Alert transaction, and "we have a pretty good relationship with Jim Davis," who generally knows what Per Mar will be interested in.