Per Mar gains resi clients

Acquisition of Minn. firm brings in thousands of accounts
Wednesday, October 7, 2015

DAVENPORT, Iowa—Super-regional Per Mar Security Services has acquired 2,000 accounts with its purchase of Northern Safety and Security of Bemidji, Minn.

Ninety percent of those accounts are residential, Brian Duffy, president of Per Mar’s security services electronic division, told Security Systems News.

Per Mar, a family-owned company started by Duffy’s grandparents in 1953, will fully take over those accounts and service them, he said. The company has a UL-certified central alarm station based here that monitors 40,000 customers.

He declined to comment about the RMR associated with the new accounts, but said his company has about $100 million in overall revenue. At the end of 2013, Per Mar reportedly had more than $1.72 million in RMR. With 2,200 employees, it has 23 locations in Iowa, Wisconsin, Illinois and parts of Indiana, Nebraska and Minnesota. The latest acquisition expands its territory into north and northwest Minnesota.

Per Mar will continue operations in the Bemidji, Minn., office.

About 80 percent of Per Mar’s accounts are commercial, Duffy said.

The residential space is one of Per Mar’s biggest challenges. “It’s changing quite a bit with all of the new players, but if you provide great customer service you’ll win out,” he said.

Per Mar is “always looking to grow, geographically through acquisition and inside our own markets as well,” he said.

Barry Epstein of Vertex Capital advised Per Mar on the transaction.

Per Mar provides monitoring, guard, investigative and employment screening services, as well as electronic security and fire alarms. It also offers interactive home monitoring services.