Paladin Security merges with top Canadian integrators
BURNABY, British Columbia—Paladin Security, a full-service guarding company and security systems integrator based here, on Feb. 1 merged with two integration companies in Canada—Marcomm Systems Group Inc. (MSGI) and CONTAVA Inc.—creating one of the largest system integration companies in the country. Both deals are shared purchase agreements.
Although Paladin has a very strong presence on the guarding side, over the last few years the company has really started to grow aggressively on the electronic security side, according to Ted Reid, president & CFO of Paladin Security Systems Ltd.
“Part of that strategy is to grow through strategic acquisition, so acquisitions where the technical capability and the culture lines up with our organization are key factors,” Reid told Security Systems News. “In this case, in one fell swoop, we’ve got two really strong regional players coming and joining our team all on the same day, so it is pretty exciting.”
Reid pointed out that both MSGI and CONTAVA are leaders in their respective markets across Canada, and their “technical teams thrive on creating unification solutions for complex client needs,” he said. “We have added considerable strength to our capability with these deals. It is going to be fantastic to be able to collaborate as one group to provide our clients with the most astute solution designs.”
With the merged entity, David Trudel, president of MSGI, will transition into a business development role with Paladin. Trudel said in the announcement that he is “very much looking forward to seeing us compete at the national level with what I consider to be the best technical resources in the country. Our whole team is embracing the opportunity as the next step in our journey.”
Curtis Nikel, the founder of CONTAVA Inc., added, “Paladin Security has a strong alignment with our organization and going forward together, we will be in a position to show leadership in the IP-based security system industry. I know this is the precise natural progression for our people to demonstrate their capability across a more extensive branch network in Canada.”
Overall, the merger helps Paladin maintain the strong growth it has experienced over the past few years. The company’s revenue grew by 18 percent in 2016, and the company ended the year near $300 million in revenue.
“2016 was another record year here for us in Canada. We have had double-digit growth for 15 years in a row, so we have been growing consistently and steadily over the years,” said Reid. “We are approaching $400 million in revenue for the company and we will pass that mark by the end of the year, so we expect another record year in 2017.”
With more than 10,000 employees and 28 offices across the country, Paladin Security provides security officer services, security system integration, alarm monitoring, mobile response, investigations, business continuity planning, and security consulting.