SafirRosetti adds to its expertise
NEW YORK-Investigative security and intelligence consulting firm SafirRosetti expanded its expertise in mid-May, buying MVW Consultants, a Dallas based firm that provides the company with inroads in the physical security market.
SafirRosetti can now offer nearly all security solutions in-house, said Howard Safir, chairman and chief executive officer of the less than a year-old company. Previously the company partnered up with outside vendors to provide clients with security system design and engineering capabilities. The company, however, does not install systems but oversees the installation job sub-contracted to either integrators or electrical contractors.
"This gives us the ability to do a total turnkey solution," said Safir. "Very often when companies go out for security solutions, they have to go to a number of different vendors." This acquisition, he said, makes SafirRosetti a one-stop shop.
The purchase price for the 10 employee firm MVW Consultants was not released, but Safir said the company reported sales revenues of $2.5 million a year.
The deal is expected to be one of many for the start up, founded by Safir, former New York City police commissioner and Joe Rosetti, former security director for IBM and once the vice chairman of Kroll.
Building its base and expertise through acquisitions is part of the company's strategy, said Rosetti, who is now president of the firm that also bears his name.
"What they bring to the table is a beginning of a series of acquisitions in this particular space," said Rosetti.
SafirRosetti began its series of acquisitions when it bought Noeisis, an investigative security firm with offices in San Francisco and Los Angeles, in February. The company employed 14 people.
Other geographic locations are expected to follow, such as one in Miami.
Besides adding offices through acquisitions, the company will also pursue gaining additional expertise in the security market by buying other security firms.
Company officials are currently eyeing the IT security market. Right now SafirRosetti uses a subcontractor to provide clients with that service, but that could change if the company acquires a firm with that expertise.
SafirRosetti's expertise runs the gamut, from security planning and management, to budgeting, engineering and designing security systems. The company employs 40 people in seven offices, which includes locations in London and Hong Kong.