TOPEKA, Kan. - The long saga of the sale of Protection One ended in mid-February, when former parent company Westar Energy finalized its sale to New York-based investment firm Quadrangle Group LLC. Quadrangle paid Westar $122 million for Protection One, which comprises more than 2,300 employees and more than a million commercial and residential customers, and all of its debt. Westar acquired the company in 1997 for $320 million. For Richard Ginsburg, president and chief executive officer of Protection One, after 14 months of rumors about the company's future, the completion of the sale is a relief.
WINCHESTER, Va. - While working for an electrical contracting company that installed security and fire alarms on the side, husband and wife Barry and Kathleen Horton witnessed the Ã¢â‚¬Å“tremendous growth potentialÃ¢â‚¬Â in security first hand.
NEW YORK - According to a company executive, Tyco InternationalÃ¢â‚¬â„¢s Fire & Security division may soon shed its Sonitrol alarm monitoring unit.
Tyco Fire & Security President Dave Robinson made the announcement on Wednesday during a conference call at TycoÃ¢â‚¬â„¢s investor meeting here.
DALLAS - Security industry lender Financial Security Services said in late 2003 that it had partnered with a major bank for new lending opportunities for the security industry and appointed a new president and chief executive officer.
Through its new, long-term banking relationship with Bank One, FSS will be able to continue to provide Ã¢â‚¬Å“line of credit and term loan financing to independent alarm dealers,Ã¢â‚¬Â said Jeffrey Peiper, FSSÃ¢â‚¬â„¢s new president and chief executive officer.
STAFFORD,Ã‚Â Texas - SweetwaterÃ‚Â Security CapitalÃ¢â‚¬â„¢s acquisition of approximately 1,500 monitoring accounts from DSS Security, a subsidiary of Eagle Broadband, late last year marked the fifth such deal for the firm in 14 months.
The acquisition of the accounts, which were purchased for an undisclosed amount of cash, puts Sweetwater closer to its objective of building a national security company.
BOCA RATON, Fla. - With more than 35 million Americans already over the age of 65 - and much of the baby boomer generation due to hit that benchmark in 2010 - ADTÃ¢â‚¬â„¢s personal emergency response business is signing a host of new partnerships and is tweaking its direct to the end-user sales approach.
MONTREAL - National installation firm Protectron made inroads in one of its target urban markets in December when it acquired a 20-year-old alarm company to add to its base of accounts in British Columbia.
With the purchase of Valley Alarms and its 4,000 accounts, Protectron grewÃ‚Â its subscriber base in the greater Vancouver marketÃ‚Â to more than 10,000 accounts, part of a strategic plan to boost the companyÃ¢â‚¬â„¢s market share in Vancouver and two other metropolitan markets in Canada - Toronto and Ottawa.
IDAHO FALLS, Idaho - RS&I, a distribution company that offers affinity programs in vertical markets, has renewed its partnership with SAFE Financial, based in San Ramon, Calif., to launch a new phase of the Alliance program.
John Bergher, EVP of marketing and customer care for Sacramento, Calif.-based GHS Interactive Security, talks to Tess about the partnership GHS formed this spring with Solar Universe to offer homeowners a solution combining security, home automation and solar.