PASS Security acquires Security Innovations
FAIRVIEW HEIGHTS, Ill.--PASS Security, a residential and commercial security integrator based here, has acquired Security Innovations a St. Louis-based integrator. The buy brings eight employees and a number of "mid-sized to larger commercial customers," said Brian Sullivan, general manager of PASS Security.
The Security Innovations buy will get PASS right at $10 million in revenue for 2009, Sullivan said, and the company will continue to be in a "rather large growth mode." As the industry continues to consolidate, he said, "we'll be active in looking for other partners, whether strategic, or through acquisitions, to provide those additional resources we need as we continue to grow."
Sullivan said PASS came upon Security Innovations through general networking in the region and said the company has a history in schools and health care, markets where PASS already has a good deal of business. "This helps our ability to service those customers," he said, "especially with their more sophisticated security needs, integrating their access control and video systems, and also getting more into the IP world."
"We're not necessarily a bleeding edge-type company," Sullivan said. "That's not our strength. We're a little more conservative in our introduction of those new technologies to our customers. We're excited about those things, but we're cautious."
PASS owns its own central station and serves more than 8,000 accounts covering residential and commercial security and fire installation through complete home lifestyle electronics.