Pinnacle buys

Thursday, January 1, 2009

OREM, Utah--Summer-model company Pinnacle Security has acquired “the salesforce and technical department” of Icon Security, another summer-model company based in nearby Provo, Utah.

Pinnacle’s equity partner in the deal was Golden Gate Capital, a $9 billion equity firm based in San Francisco.Christopher Munday, Pinnacle CEO, said in a statement the deal would “dramatically increase our growth rate and add further momentum to our business.”Golden Gate Capital said in a prepared statement it has more than “$5 billion of capital available for identifying and acting on exciting opportunities like this one.”

Golden Gate Capital’s public relations firm referred calls from Security Systems News to Pinnacle Security. Several calls and emails to Pinnacle Security were not returned.