Stanley back in buying mode
LAS VEGASÃ¢â‚¬â€Stanley Convergent Security Solutions, the business created by Stanley WorksÃ¢â‚¬â„¢ acquisition of HSM in early 2007, came to Vegas for ISC West with news of a Vegas-based acquisition: A-1 Security, the company formerly owned by CSAA president Bud Wulforst. The company, which does about 65 percent of its business in the commercial arena, also has an office in Reno, Nev.
Brett Bontrager, president of Stanley Convergent Security Solutions, said this move is evidence that Stanley, just a little more than 12 months after closing the HSM deal, is back in acquisition mode. This Ã¢â‚¬Å“is a signal,Ã¢â‚¬Â he said, Ã¢â‚¬Å“of how well the integration has gone and that weÃ¢â‚¬â„¢re comfortable now moving forward on new transactions. This exceeded all of our expectations.Ã¢â‚¬Â
A-1 was a good candidate for acquisition, Bontrager said, because it is in Ã¢â‚¬Å“two very attractive markets we currently have not participated in, Las Vegas and Reno. To find a company thatÃ¢â‚¬â„¢s as well run as this and has the mix of commercial accounts that we are focused on ... offers us a perfect entry into a new market.Ã¢â‚¬Â
Nor is Stanley done growing. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢re looking for strong commercial providers,Ã¢â‚¬Â Bontrager said, Ã¢â‚¬Å“in markets that we are not in today, or markets that we want to further develop, with a reputation for quality service that will allow them to quickly integrate into the Stanley platform.Ã¢â‚¬Â He also said the education, health care, retail and government verticals are attractive to Stanley as it looks to grow.
Tony Byerly, newly installed chief operating officer at Stanley Convergent, said the company is already growing rapidly organically. Ã¢â‚¬Å“First quarter, this year to last, weÃ¢â‚¬â„¢ve grown 20 percent year over year,Ã¢â‚¬Â he said. Ã¢â‚¬Å“WeÃ¢â‚¬â„¢ve been extremely strong. IÃ¢â‚¬â„¢d attribute that to our customer service.Ã¢â‚¬Â
Bud Wulforst will leave the company to focus on his work with CSAA. Howard Wulforst, the chief operating officer at A-1, will remain with Stanley as district general manager for Nevada, including both A-1 branch locations.