Per Mar sees opportunity in South Bend
DAVENPORT, Iowa—Brad Tolliver, VP of Per Mar’s Electronic Security Division, finalized the acquisition of Indiana Security, and before the ink was dry on the contract was interviewing sales and technical people to add to the team.
“It’s a new territory for us and we believe there’s a lot of opportunity in this market,” Tolliver said. “We really want to grow our presence in the South Bend market.”
A super-regional with 21 branch offices throughout Wisconsin, Iowa, Illinois, Minnesota and Nebraska, this acquisition marks Per Mar’s first foray into Indiana.
William and Linda Humphries founded Mishawaka, Ind.-based Indiana Security in 1972 just outside of South Bend. The Humphries are retiring, but their son Brad Humphries will stay on as general manager. Ten current employees will also be staying on.
The company brings with it 2,300 accounts, 60 percent of which are commercial. “They do a variety of core business, [with particular expertise] in financial institutions,” Tolliver said.
“It’s very much a family business and it’ll be transitioned into another family business,” he said. “The companies and customers are very similar and that’s one of the things that made them attractive to us.”
Currently, Per Mar’s closest office to this market is Rockford, Ill. This new territory will extend from South Bend all the way to Southern Michigan.
Per Mar recently announced that it instituted a new company-wide initiative: False Alarm Control Teams in nine of its branch locations. Tolliver said that’s one of the many initiatives Per Mar will be rolling out in this new territory in the next several months. Asked about future acquisitions, Tolliver said Per Mar is “always in pursuit of acquisitions.”
Ron Davis, managing partner of Davis Marketing Group, represented Indiana Security in this transaction.