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NEWSWIRE
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ASG acquires Choptank |
By Martha Entwistle - 02.07.2008
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BELTSVILLE, Md.--In what ASG Security called a "model tuck-in acquisition," the company announced Jan. 30 it acquired Choptank Security Systems of Denton, Md.
"It's a small, under-the-radar, directly negotiated acquisition," said Bob Ryan, vice president of sales and marketing for ASG.
Terms of the deal were not released. The acquisition brings with it $40,000 in RMR and 1,700 accounts, a "healthy blend of commercial and residential accounts," Ryan said.
Ryan noted the acquisition is strategic because the company is located on the Eastern shore of Maryland, an area that's "not easy to service from our main hub in Baltimore-Washington. We are going to keep the Denton office and it has a very good employee base [numbering approximately 10] that we are going to retain, who include sales and operations [personnel]."
The company was formed in 1996, as a subsidiary of Choptank Electric Cooperative. The acquisition was announced jointly by ASG president and chief executive officer Joe Nuccio and Choptank's former owner, Fred Hubbard.
"I believe our security systems customers will be well served by [ASG]. ASG will help meet the demands for those interested in the latest technologies and trends in the security industry," Hubbard said in a prepared statement.
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