Safeguard completes Hacienda acquisition
PHOENIX--Safeguard Security has now completed the acquisition of Scottsdale, Ariz.-based Hacienda Security, Safeguard CEO John Jennings told Security Systems News on Nov. 19.
"It adds three quality builders to our portfolio," Jennings said, "and it's a nice way for us to get in the door now."
Terms of the acquisition were not released. Safeguard also gained 1,300 residential accounts and 16 new employees, including the former owner of Hacienda Security, Steve Compton. Compton knows Safeguard well, since he started his career with Jennings 20 years ago. "He is going to do business development for us," Jennings said. The other employees include a scheduler, programmer, technicians, installers and project managers.
All of the Hacienda accounts were moved to Safeguard at the end of October.
Given the housing downturn, is now a good time to invest in the builder market? It depends, Jennings said. Jennings used to work with track-home builders, but got out of the business four years ago.
"I look pretty smart now, but I just didn't like the business," he said. "The track business was not for us." The builders Jennings continues to work with, including the ones from this deal, do custom and semi-custom work. "They're the ones we like to do business with," Jennings said.
Jennings also reported that Safeguard's move to its brand new 60,000 square-foot headquarters was complete on Nov. 11. (Search "Safeguard acquires Aztec, moves to new offices" at www.securitysystemsnews.com for more information.)