Security Int'l joins forces with U.K. firm
MILWAUKEE - Access control manufacturer Security International has joined up with U.K. based building management firm Balfour Beatty in a multi-faceted transaction. As part of the deal, Security International will now oversee Balfour's two North American security operations Ã¢â‚¬â€œ Integral Technologies and Andover Controls' security component.
The arrangement provides opportunity and a larger presence for Security International, which launched just a few months ago in today's highly competitive security market. Terms of the transaction were not released.
"When you start a company new, people are worried about the potential longevity of the company," said Joel Konicek, president of Security International. "This partnership with Balfour Beatty is a perfect solution. Everybody wins because the employees are still involved and we also have the backing of a multi-million dollar company."
As part of the deal, Security International will now oversee Integral Technologies, a 150-employee company based in Indianapolis that Balfour Beatty bought a few years ago.
Konicek will also manage the security division of Andover Controls. Andover's HVAC business remains in Andover, Mass., while engineering and research and development for the security division will relocate to Milwaukee. About 20 people will be impacted by the move. Balfour Beatty bought Andover Controls about 10 years ago.
"We have been looking to marry up Andover's access control business with Integral's," said Bill LaPointe, president of Andover Controls. "Joel and his company provided the catalyst to do it."
Plans call for Integral to retain its identity, but Andover's security division will now be known as Continuum, the product brand name. Company officials also intend to integrate the Continuum and Security International access control products with Integral's digital video product line.
This arrangement, said LaPointe, "broadens our product offering and positions the company better for integrated security solutions with a single, dedicated sales force offering the entire suite of products."
It's also prime positioning for a company looking at expanding its reach and building its name recognition. In the next few months, Konicek said Security International could close on two more acquisitions. One deal involves a provider of high-end digital products, while the other transaction centers around military applications.
"We're trying to build Security International," said Konicek. "That's a generic name that can be adopted by a variety of products."