Stanley buys from Verifier again
NAPERVILLE, Ill.—In its second deal with Verifier Capital in a few months, Stanley Convergent Security Solutions this week announced that it bought a book of accounts from Verifier.
“We worked with Verifier on the acquisition of these customer accounts that they owned. Most are commercial accounts using Sonitrol [technology] and there are a small number of traditional digital accounts,” Felix Gonzales, VP strategic initiatives & business development told Security Systems News.
Gonzales declined to release the specific number of accounts or exact geographic location of the accounts, but said, “If you look at the acquisitions we’ve done in the last two years, this is a medium-sized acquisition for us.” He also said the accounts are located in the southern United States.
Since Stanley bought Sonitrol in 2008, it has been buying up the remaining independently owned Sonitrol franchises on an opportunistic basis. Most recently, it purchased Electronic Protection Network, of Savannah, Ga. in March.
There are approximately 89 remaining franchises left.
A little earlier in March, Stanley CSS acquired three, mostly commercial, security companies in the U.K. that were owned by a Verifier Capital, which is based in Boca Raton, Florida.
In March, Gonzales told Security Systems News the acquisition of those three companies would impact the U.S. market. “Many U.S.-based companies are expanding their businesses overseas and globally. This acquisition expands and strengthens Stanley’s direct service capabilities for customers wanting to do business with one security provider for their locations in North America and UK, along with France."
Security Systems News was unable to obtain an interview with Verifier Capital early in March and Verifier did not respond to interview requests before press time today.
According to its web site, Verifier’s traditional specialty is providing capital to small- and medium-sized alarm companies with financing needs from $1m to $10m.
It “traditionally served the Sonitrol franchise network,” the web site says, but “recently expanded its operations to the broader U.S. commercial security alarm industry, where we provide capital to security alarm companies engaged in all types of monitoring services, from traditional intrusion detection to CCTV and remote video monitoring.”
Stanley CSS has 75 offices and more than 300,000 accounts. Of those, more than 52,000 use Sonitrol technology.