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Patrick Egan

ADR Security and Security Partners form joint venture

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Wednesday, August 16, 2017

ADR Security, a full-service electronic and physical security provider based in New York City, on Aug. 11 announced a new business: ADR Security Monitoring, a joint venture with Security Partners that caters to the specific security needs of high-end jewelers in New York City.

ADR Security services about 4,500 individual sites, offering intercom, intrusion, electronic access, video surveillance, fire and life safety, locksmith and AV cabling among other services. The business, by sales, is 90 percent commercial with 10 percent in high-end residential.

“What we were trying to do was figure out a way to go to market with a solution in the jewelry industry,” Peter Goldring, EVP and COO of ADR Security, told Security Systems News. ADR found that working with Security Partners provided the best outcome. “We’re going to be able to issue central station certificates here in the New York market, serviced out of New York,” said Goldring.

Security Partners operates four redundant, UL listed, TMA Five Diamond monitoring centers throughout the United States; in Lancaster, Pa., Anaheim, Calif., San Antonio and Las Vegas.

Goldring described ADR Security Monitoring as “an extension of a retail business that still has very deep roots into the wholesale, third party business. And, it—of course—will afford the opportunity for the other third party dealers to work with ADR Security monitoring, to partner with us, to issue certificates where necessary.”

This business differs from that of a traditional alarm dealer-monitoring center relationship. “ADRSM is the full-circle approach, the operator is able to take service requests, is able to dispatch the runner. Everything is in house, under the roof of Security Partners’ facilities, helping us with the day-to-day operation of the business. So, it really is a much more intense relationship, but it truly is a partnership,” Goldring said.

“We believe there is a huge, underserved market for certificate service – bigger than ever before – and this is a great opportunity for us to partner with a strong, independent and financially solid company like ADR Security,” Patrick Egan, founder of Security Partners, said in a prepared statement.

ADRSM’s announcement mentioned the possibility of expanding after establishing a presense in New York’s Diamond District, and the company is exploring locations for its next markets. “The next two most significant markets are in California, in Los Angeles, … and then of course there’s a fairly large industry in Las Vegas, with a number of jewelry stores and high-end boutiques that often requires the certifications,” Goldring said. “Those are probably the next areas that we’ll jump into.”  

Security Partners names new president

Industry veteran Randy Hall takes over the role
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06/12/2017

LANCASTER, Pa.—Security Partners, a wholesale monitoring company with four centers through the United States, today announced that Randy Hall will take over as the company’s president.

Select Security expands into Virginia

Egan says Select is ‘just getting started’ with purchase of 5 Star Security
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07/27/2016

LANCASTER, Pa.—Just one month after securing a $55 million credit facility with Goldman Sachs, Select Security, a super-regional security company based here, has acquired 5 Star Security, a Bluemont, Va.-based high-end residential company.

Select Security closes on $55m credit facility with Goldman Sachs

Egan: Funds to be used for acquisitions, launch of DIY product with Mace
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06/22/2016

LANCASTER, Pa.—Select Security, a super regional security company based here, received a $55 million senior credit facility with the Goldman Sachs Specialty Lending Group.

Select Security partners with Mace to launch national DIY product

Company finalizing manufacturer choice, executive director to oversee program
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06/16/2016

LANCASTER, Pa.—Select Security, a super-regional based here, is partnering with Mace, best known for its pepper spray, to launch a DIY product nationally in 2016.

Select Security goes to Kentucky and West Virginia with purchase of Secure US and three others

Super-regional expects to hit $1m in RMR by year end
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12/10/2014

LANCASTER, Pa.—Super-regional Select Security moved into two new states—Kentucky and West Virginia—and added about 8,000 new accounts with the acquisition of Secure US of Morgantown, W.Va., and three companies in Kentucky.

Barnes Associates wholesale monitoring survey finds accounts up 19 percent

Michael Barnes suspects cableco/telecom influx could be behind ‘unprecedented growth’
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03/12/2014

YARMOUTH, Maine—Much can be gleaned from the fourth annual Barnes Associates/SSN/CSAA wholesale monitoring survey, but if anything stands out about 2013, it’s that overall growth was gaudy.

Select Security restructures management team

With a 38 percent increase in RMR and attrition around 5-6 percent, Select looks to do more door knocking and amp up inside sales in 2014
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01/08/2014

LANCASTER, Pa.—Select Security, a super-regional based here, is starting 2014 with a restructured management team and goals that include a new inside sales program and additional growth of its summer sales program.

Security Partners acquires Mace Central Station

Deal makes Security Partners a 'national player,' CEO says
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12/19/2013

LANCASTER, Pa.—Security Partners, based here, announced today that it has acquired its third monitoring center: Mace Central Station, located in Anaheim, Calif.

Talking panels and keypads with Patrick Egan

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12/18/2013

As a senior in high school, Patrick Egan, owner of Lancaster, Pa.-based Select Security, worked at a bowling alley that was broken into one night.

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