National Guardian buys second central station
NORWALK Conn.--National Guardian Security Systems on Sept. 20 announced it acquired a second UL-listed monitoring station, Professional Security Monitoring of New York. The deal was inked on September 1; terms of the contract are not being released.
National Guardian, which offers electronic security services to multi-location businesses throughout North America, will now have full redundancy for its existing station in Richardson, Texas, said president George Flagg. "In New York they monitor dealers throughout the country. It will be helpful to us, having additional service people for our national accounts. We see these dealers as partners that we have in the business."
PSM president Rick Rockwell said they sold because, they divested of the wholesale monitoring business. "We also have another central station in Augusta, Maine--we own Maine Security--and we are contracting back with National Guardian for additional services. Basically, we wanted to be out of the wholesale business," said Rockwell. National Guardian also offered them a "fair deal" and "allowed them to focus on building our direct business." Another key component of the agreement: "No jobs will be lost, and that was one of the things that was attractive about the deal--continuity," said Rockwell.
The acquisition of PSM will bring more than 13,000 new accounts, getting National Guardian's total to approximately 24,000. The company has been expanding in recent months, announcing the acquisitions of Orlando-based Corporate Security Management and Strong Alarm of Kansas City in January, and TVR Service Systems & Engineering based in Auburn, Calif., in May, enabling National Guardian to further extend its client base and geographic footprint. National Guardian's accounts include Borders Books and Toys 'R Us.