Owen Security makes third acquisition of 2016
CALHOUN, Ga.—Owen Security Solutions, based here, announced today that it has acquired Tight Security Systems.
Justin Owen, company president, told Security Systems News that the company will continue to grow by acquisitions in the future. “Financially speaking, it just makes too much sense to not go down that road.” The company isn’t looking to complete any before December, he added.
The 600 account addition brings Owen Security's total customer base over the 5000 account mark. Owen said that the company started 2016 with about 3000 accounts.
This is the third acquisition, both this year and in the company's history, for Owen. The company acquired the accounts of Davis Security Services in September, and Medley Systems in July.
Scott Bishop, the owner of Tight Security, will join Owen Security to help the transition. “He’s staying on with us as a hybrid position, [responsible for] business development, service technician, technician trainer,” Owen said.
“Extends our footprint a little bit, geographically speaking. But, for the most part, we’re already overlapping that area with plenty of customers,” Owen said.
Tight Security’s business, based out of Ellijay, Ga., was about 95 percent residential, Owen estimated, with some small retail accounts. Owen Security is about 60 percent residential.
Owen Security and Tight Security are both in small communities, Owen pointed out. “We feel like it's a good culture fit, and we can work with his customers really well,” he said.
Owen Security currently has about 30 employees, but is looking to add on between three and five more before the end of the year, Owen said.