Murdoch acquires Lansdell in guarding consolidation
NEW YORK--Guard company Murdoch Security Group on Nov. 12 completed the acquisition of Lansdell Protective Agency, based here.
Lansdell "historically has revenues between $20 and $30 million," said William Vassell, chairman and CEO of Murdoch. It's a "premium company with a banking and transportation [including aviation at Newark Airport and JFK] and a maritime client base," he said. "This puts us in the transportation and aviation sectors and solidifies our banking security franchise," Vassell said.
The former owners of Lansdell, Tracy and Lansdell McRoberts, are retiring; the management team will stay in place. Tom Tuite, who has been with Lansdell for 14 years will continue to lead its operations as regional manager for New York and New Jersey. Lansdell has offices in Manhattan, Long Island, Westchester County and New Jersey and has been in business since 1964.
Lansdell will maintain its name. "We believe that has value," Vassell said.
This deal, terms of which were not released, is Murdoch's fourth acquisition of an East Coast guard company since it was founded in 2004 (search "Murdoch acquires Fortress" in www.securitysystemsnews.com).
Murdoch's acquisition strategy allows individual group partners to maintain their distinct brand identities and local leadership, while it helps them "upgrade service levels and operational efficiency." Vassell has said that some companies lose up to 40 percent of their business after an acquisition, but Murdoch has retained more than 95 percent of its clients.
Vassell plans to take Murdoch public and said he's "actively seeking additional security partners."