Archive: November 2004
Protection One placed on positive watch by Fitch Ratings
November 25, 2004Rhianna Daniels
November 25, 2004
NEW YORK - Fitch Ratings has placed Protection One’s ‘CC’ senior unsecured and ‘C’ senior subordinate ratings on Ratings Watch Positive, the company’s first upgrade on its notes in one year.
The move follows Protection One’s announcement last week that it has reached an agreement with affiliates of the Quadrangle Group, the company’s largest creditors, and its majority equity holders on a debt restructuring plan that would...
SIAC endorses enhanced call verification
November 25, 2004SSN Staff
November 25, 2004
NEW YORK - The Security Industry Alarm Coalition announced its endorsement of enhanced call verification at the ISC Expo East earlier this month. At the same time, SIAC discussed the development of a new centralized national ordinance tracking database.
Enhanced call verification is a process that requires a monitoring station to contact its alarm user to confirm if an alarm warrants police dispatch. The policy does not advocate that panic, or other such alarms, be verified before...
TAC, Andover Controls reveal new name
November 25, 2004SSN Staff
November 25, 2004
CARROLLTON, Texas - TAC and Andover Controls, two building control and security management companies now owned by French firm Schneider Electric, have come together under a single name.
The united companies will now be known as Tour Andover Controls, leveraging the name recognition of both building automation companies.
The new name draws upon an earlier identity for TAC, Tour & Andersson Controls. It also draws upon the name recognition of Andover Controls in the United States...
IASG seals the NACC deal
November 25, 2004SSN Staff
November 25, 2004
ALBANY, N.Y. - Integrated Alarm Services Group’s acquisition of third-party central station National Alarm Computer Center in Irvine, Calif., appeared to go off without a hitch, closing as expected in mid-November.
At $50 million, the deal represents IASG largest purchase since it went public in 2003. It provides IASG with $800,000 in third-party monitoring recurring monthly revenues and a portfolio of alarm contracts worth $430,000 in recurring monthly revenue.
Officials...
AlarmForce announces record new customer installs
November 25, 2004SSN Staff
November 25, 2004
TORONTO, Ontario - AlarmForce Industries is celebrating the end of its 2004 fiscal year with a record number of new subscribers.
Last week, the company, a manufacturer and installer of two-way voice security systems in North America, announced that its new subscriber installations totaled 11,500 for the year ended Oct. 31, 2004. The addition of these new systems brings the total of AlarmForce’s monitored account base up to more than 48,000 subscribers.
Joel Matlin, president...
Brink’s reveals additional details of unpaid taxes
November 25, 2004SSN Staff
November 25, 2004
RICHMOND, Va. - In The Brink’s Company’s quarterly report, company officials revealed that it has yet to be assessed penalties and fines associated with a non-U.S. Brink’s Inc. businesses’ failure to pay custom duties and value-added taxes.
Although the incident is still under investigation by Brink’s, the parent company of Brink’s Home Security, the company has lowered the amount of possible fines it could face.
When it disclosed the possibility...
NYC implements carbon monoxide detector law
November 18, 2004SSN Staff
November 18, 2004
NEW YORK - Starting in November, all multiple and private dwellings, in addition to institutional educational facilities, in the city of New York are required by law to install carbon monoxide detectors.
First Alert has donated 60,000 detectors to the FDNY Fire Safety Education Fund to help support compliance to the new law. The company will provide 20,000 detectors over the next three years.
Local Law 7 of 2004 was passed by Mayor Michael R. Bloomberg in May. The law calls for...
Microtec seeks court protection
November 18, 2004Rhianna Daniels
November 18, 2004
ST. AUGUSTIN, Quebec - Microtec Enterprises has hit a snag on its road to recapitalization in the form of an uncooperative creditor, forcing it to file for protection under Canada's Companies' Creditors Arrangement Act.
The full-service security provider has made numerous attempts to address the needs of its creditors, who until now have provided the company with five extensions with its credit facilities this year. Daniel Tardif, communications director at the company, said one...
IASG posts third quarter results, sells $125M in senior notes
November 18, 2004SSN Staff
November 18, 2004
ALBANY, N.Y. - Integrated Alarm Services Group said it had $21.9 million in revenue during the third quarter, up from $19.5 million during the previous quarter and an increase of 125 percent over the same time period the previous year.
The company also announced it has sold in a private placement $125 million of senior notes, due on November 15, 2011. Net proceeds of the financing was $121 million, after expenses.
With the close of the senior notes, LaSalle Bank extended a $30...
Diversified reports record breaking revenues
November 18, 2004SSN Staff
November 18, 2004
SADDLE BROOK, N.J. - Diversified Security Solutions saw its sales for the quarter grow significantly and set a new revenue record.
The company, which installs security systems under the Henry Bros. name, saw sales increase 52.8 percent for the three-month period that ended Sept. 30., when compared with the same period last year. That translates into $7.7 million in sales for the company.
Jim Henry, chief executive officer of Diversified Security, attributed the increase in part...