Security Networks steps up to bat

Florida-based company shifts growth plans into high gear, acquires residential accounts
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Wednesday, December 1, 2004

WEST PALM BEACH, Fla. - Fresh off its recent acquisition of 3,000 accounts from Pilot Home Technologies in North Carolina, Security Networks is in the midst of a growth plan designed to bump the company’s business in the southeast corridor of the United States.

The company, which according to Rich Perry, president of Security Networks, is ramping up to reach its goal of $2 million in monthly recurring revenue within three to five years - up from its current number of $150,000.

To do this, Perry set out to bring outside capital in to push his growth plan forward.

“Part of what we are trying to do and what we have been doing is bringing capital into the industry from outside the industry,” Perry said.

He cited the shortage of finance firms in the market since the scaling back of such financial entities such as SLP and GE Capital.

“We have raised the capital and now are in the position to implement our strategy,” Perry said.

The plan, which Perry has been working on since 2004, calls for growth from acquisitions - like the 3,000 mostly residential accounts it acquired from Pilot Home Technologies in October - and increasing its existing infrastructure.

The company has already added two new employees to its roster. Al Cuccinello has joined the firm as director of contract services, which includes the mass marketing and contract sales sector, and George Harbin now serves as director of sales for engineered systems.

The variety in services that Security Network provides sets them apart from other security providers, Perry said.

“Our business model is probably a bit different from most,” he said. “We are focused on the commercial and engineered systems market as well as the residential and mass marketing business.”

And Security Networks is committed to serving all sectors of the market, not just focusing on one.

“We will pursue all of those markets.” Perry said. “We think they complement each other.”

Perry said certain hot spots in the Southeast attribute to the company’s rate of success.

“We are based here and the Southeast is a generally growing market,” he said.

“Charlotte, Atlanta, Miami and Orlando are vibrant growing markets.”