Red Hawk buys New England Security
DENVER--Red Hawk Industries, a systems integrator specializing in the financial market, announced late last week the acquisition of New England Security, a firm with more than 30 years of experience in bank design and construction. Red Hawk did not disclose terms, but confirmed it had acquired 100 percent of the NES stock.
"It gives us more reach into the Boston area, New Hampshire and Vermont," said Greg Johnson, Red Hawk's president and chief operating officer. NES, based in Taunton, Mass., also has a strong foothold in the eastern Conn. market, Johnson said. He cited the company's "pristine reputation in the marketplace" and smaller, local bank clients that get at Red Hawk's "sweet spot" as deciding factors in the deal. Further, he noted that an NES group focusing on bank construction--not included in the deal, but now a partner in a co-marketing agreement--and NES's information kiosk line of offerings could be leveraged throughout Red Hawk's holdings.
NES represents Red Hawk's 15th acquisition in just six years since the company's inception in 1999. NES will, like many of Red Hawk's purchases, retain its management structure and its brand identity.
Allied Capital, from which Red Hawk secured $41.5 million in financing at the beginning of 2005 for purchases that included integrators BVI and FiSource and disaster recovery specialists MPA, also financed this deal.
See the February issue of Security Systems News for more from Greg Johnson on Red Hawk's strategies and comment from New England Security.