Select Security goes to the Poconos
STROUDBURG, Pa.—Select Security CEO Pat Egan estimates he spent 70 percent of his time this fall working on acquisitions. It appears to have paid off: He made six acquisitions, increased his account base by 20 percent, and moved into a new market here in the Poconos. He also branched out into a new facet of security: locksmithing.
“We’re moving into the mountains,” Egan told Security Systems News. Egan acquired Keiper Lock & Alarm and Supreme Alarm Systems of Pocono Pines; D&M Lock and Alarm and Kreckman Security Systems of Pocono Lake; A-Right Security of Stroudburg; and accounts from Alarm Telecom Center, Inc., a monitoring company also located here in Stroudburg. Greg Liddy, the former owner of A-Right Security, has joined Select Security in a sales role.
Together, these acquisitions add roughly 2,000 accounts, bringing Select’s total retail accounts to 8,000. The acquisitions also add 900 lock accounts. Select Security will open its fourth branch office, here in Stroudburg this month. “We’ve got office space leased and will open the office by January,” Egan said.
There will be about 10 employees in the new office including Peter Palma, a salesperson who came to Select from ADT, and Lori Cannetti, administrative manager, who has 12 years experience working for Niscayah. “We’ve assembled a really good team,” Egan said.
Egan said the new customer base, which includes many vacation homes, is “ripe for new services offered by Honeywell’s First Alert dealers [such as] GSM and Total Connect and remote video,” as well as add-on services such as water shut-off and heat failure alerts. “Water can cause a lot more damage to properties than burglars,” he said.
In 2010, Egan will “continue to look for acquisitions in our areas that will be nice tuck-ins.”
Companies who are considering selling tend to like Egan because, “in general we will retain employers who want to stay and give them better benefits.” The culture at Select makes it easy to retain employees, he said. It’s a simple formula: “We take care of our team members, they take care of the customers and the customers take care of us,” he said.
While Egan seeks to grow the company, Select’s business objective remains the same, “to continue to be the major provider for security in the small markets we serve.”