Titan Alarm acquires again
PHOENIX—Titan Alarm, a security, access, fire and surveillance company based here, made its second acquisition of the year with the purchase of 440 accounts from Giant Security Systems, Inc., also based here.
Titan CEO Mike Proudfit told Security Systems News discussions with Giant Security Systems owner Nick Pugliese began last year.
“I knew after meeting him, and the integrity and character that he displayed while getting to know him over the course of the past year, that he would have a great base of customers,” said Proudfit. “Nick has been in the industry for 30 years, and he started the company about 11 years ago, and has done an amazing job with the quality of accounts that he has.”
Proudfit said that in addition to acquiring a “great customer base with a great history,” Pugliese is joining the company as service manager.
“When it comes to acquisitions, we are interested in good people, and Nick is one of those good people that we are referring to,” he said. “He has a wide range of installation experience, knowing all of the different types of panels and technology that is out there, so we are very excited to have him on board as our service manager and to acquire his customer list and RMR.”
This is Titan’s second acquisition since closing on a $5 million line of credit with The PrivateBank, and Proudfit said he expects “a few more acquisitions” to be completed by the end of this month.
“Strategy-wise we want to continue to do acquisitions within the different company focuses, which are access, fire, security and surveillance,” said Proudfit, who explained that the acquisition that Titan did back in March was fire, and this month’s is residential and commercial security and surveillance.
“Giant Security’s primary focus was on security and surveillance with most of their new work in surveillance—10- to 15 camera system jobs—which is something that is easy to slip into our business model,” said Proudift. “I think we are the largest Hikvision dealer in the state of Arizona and one of the largest dealers of Hikvision cameras in the West. So we are moving a lot of surveillance.”
Proudfit said Titan Alarm has been growing rapidly since he and his brother, Titan COO Taylor Proudfit, founded the company in 2008. He said that Titan will be close to $165,000 in RMR after this acquisition and $170,000 in RMR by month's end. He also expects the company to double in size within two years.
“We are growing tremendously on the organic side, and revenue-wise we are up significantly from last year, and should reach the $2 million installation revenue mark this year,” said Proudfit. “We have a few more acquisitions slated for this month, and it will be a busy year of acquisitions and growth.”