Newly rebranded Bates Security acquires
LEXINGTON, Ky.—Bates Security, a Honeywell First Alert Professional Authorized Dealer based here, recently acquired Winchester Security in the nearby community of Winchester.
The acquisition—which netted Bates just under 300 mostly residential accounts—is the third for the company in about a year, general manager Jeremy Bates told Security Systems News.
Acquisitions aren’t the only new development for Bates Security. Bates said the company rebranded in May from its former name, ADR Security Services.
“We wanted to rebrand it to a name that made more sense,” he said. Using the family name for the family business was the answer, he said.
The Bates family owns both Bates Security, whose business is about half residential and half commercial, and Sonitrol of Lexington Inc., a separate company serving commercial clients, Bates said.
The purchase of Winchester was announced June 23 by the Davis Mergers and Acquisitions Group of Long Grove, Ill., which facilitated it. Terms of the acquisition were not disclosed.
Bates said Bates Security, which serves central and northern Kentucky, made a small acquisition of about 40 accounts last summer and then on April 1 of this year acquired Bass Services, an alarm company in Lexington, gaining about 500 mostly residential accounts.
“We have very strong organic growth year after year,” Bates said, “but we’ve identified this as a good solid way to grow our company if the right acquisition comes along.”
Are there more acquisitions in Bates Security’s future? “We’re always looking,” Bates said.
He said that Winchester Security was owned and operated by a police officer and had “a good attractive customer base.”
Bates Security added one of Winchester’s employees, a person with a lot of technical skills, to its service department, strengthening Bates Security’s technical expertise, Bates said.