Select Security seals two deals, acquires 1,000 accounts
LANCASTER, Pa.--Select Security closed two deals that netted the regional security company 1,000 new accounts, CEO Pat Egan told Security Systems News on Sept. 2.
"The deals made perfect sense for us," Egan said, noting that they'll add between $500,000 and $600,000 to total revenues. The accounts are an even split between residential and commercial accounts, he said.
The first deal was with Wacor Electronic Systems, also of Lancaster. Wacor is getting out of the alarm monitoring business, Egan said. "Their primary focus going forward is commercial video and access control." Select will continue to buy alarm accounts from Wacor.
The second deal was for a group of "non-core accounts" from Alarm Capital Alliance. The accounts originally belonged to West Branch Security Systems in Williamsport, Pa. In March of 2008, Select Security acquired West Branch, so Egan wanted to bring the accounts "back into the fold." (Search "Select Security acquires again" at www.securitysystemsnews.com for more information.)