Protection 1 acquires retail-focused systems integrator
ROMEOVILLE, Ill.—Protection 1 on March 12 announced that it had acquired Camtronic Security Integration, a retail-focused security systems integrator based in Wilmington, N.C.The deal, which closed on Feb. 29, is part of Protection 1’s stated focus on national accounts, said Jamie Haenggi, Protection 1 chief marketing and customer experience officer.
“There’s a huge opportunity out there in national accounts,” she said. “There’s a lot of dissatisfaction and opportunity to grab market share.”
Camtronic’s client list includes Winn-Dixie, Coach, Saks Fifth Avenue, Safeway, Louis Vuitton and Whole Foods, among many other well-known retail outlets.
When GTCR acquired Protection 1 about two years ago and brought on Tim Whall, Whall said he intended to grow national accounts from $7 million at that time to $100 million during the next three years.
Asked about progress revenue-wise, Haenggi said Protection 1 had made “sizable strides toward that goal.” She noted that the national account sales team has gone from 12 national account managers to more than 50 today. “Our sales team is on fire,” she said. In addition, during the past 18 months Protection1 has redesigned its “One Touch” center, where an accounts team deals with all aspects of a national account’s business.
Haenggi said that Camtronic, which has been in business since 1991, wanted to grow, but to scale more it would need to consider a cash infusion from a financial partner or an acquisition. The entire Camtronic staff will be jointing Protection 1, including Jay Linton, Camtronic founder and president; Jim Finley, vice president and managing director; and Paul Yezzi, managing partner.
The invitation to join Protection 1 was attractive to the Camtronic team, Haenggi said. And Camtronic’s staff and skill set is appealing to Protection 1, she said. “Camtronic brings deep industry experience in video and access control, more integrated systems,” Haenggi said.
As part of Protection 1, Camtronic is excited to be able to offer its customers a “full suite of products, not just video and access, but intrusion, fire and monitoring as well,” she said.