Archive: July 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.“This is Select Security's first entrance into Virginia, which we feel is a very good market, and it follows our model of being a major provider in smaller markets,” Patrick Egan, Select Security's founder and CEO, told Security Systems News.Egan...

ORLANDO, Fla.—ASIS is adding to this year's show its inaugural Security Week, a series of seminars held during the show for local business and organizations to better prepare for current physical security threats.The ASIS International 62nd Annual Seminar and Exhibits will take place here in Orlando Sept. 12-15.“We wanted to give something back,” Michael Gips, chief global knowledge and learning officer for ASIS International, told Security Systems News. “We have some of the...

YARMOUTH, Maine—From first meetings with a prospective seller to closing on the final deal, navigating the complicated acquisition landscape can be daunting. That's why Security Systems News asked four residential companies who are active acquirers—LOUD Security, ADS Security, Per Mar Security Services and Supreme Security Systems—to provide an inside look at what it takes to get a good deal done. Per Mar Security Services president Brian Duffy told SSN that for...

DALLAS—Monitronics is joining with Mission 500 to host the Moni 5K race on Aug. 6 to benefit local schools, the first of what could be an annual event and an example of Mission 500's new model. The starting line will be at Monitronics' headquarters in Farmers Branch, Texas, about 15 miles from Dallas. Proceeds from the race go to LINC North Texas, an organization that seeks to reduce school drop out rates. LINC is partnering with AVID, a separate organization that focuses specifically...

MISSISSAUGA, Ontario—Stanley Security Canada is solidifying its foothold in the SMB market in the provinces of Quebec and Ontario this year and plans to expand to other parts of Canada in 2017.“We've already put the pins in place,” Piero Romani, VP of Stanley Security Canada, told Security Systems News.A key element of the plan is Stanley's July 5 acquisition of Le Group Intégral, but look for Stanley Canada to “be more active in the back half of the year in Canada and in...

CHARLOTTE, N.C.—When CSG Security opened its doors here in 2014, founder Jeremy Brooks said the company would be the industry's next super-regional. This week CSG Security doubled the size of its business with the acquisition of Intelligent Technology Inc.Within two years, Brooks said CSG Security will be in Virginia, North and South Carolina, Georgia and Florida."We'll get there," Brooks said. "Now I'm capitalized correctly and I have some targets I want to go after," he said.“This [Intelligent...

The U.S. Department of Labor (DOL) recently submitted revisions to the Fair Labor Standards Act (FLSA) that would raise the salary threshold for earning overtime pay. Presently, only those employees making less than $455.00 per week are eligible for overtime compensation. The DOL's new rule increases this eligibility minimum to any employee making less than $913.00, an increase that many in the security industry and on Capitol Hill feel will put a financial strain on businesses, which are supposed...

HOBOKEN, N.J.—Voice activation has been an interesting topic that I've seen coming up more frequently when I hear about PERS—most recently when I spoke with Ritch Haselden, VP of sales at Essence Group, this week about Essence's upcoming products, and what it takes to include voice activation. One of the things he highlighted in the company's product roadmap is Essence's VPD, and Haselden told me a lot about what went in to setting up voice capabilities in the company's VPD—standing...

The security industry is notorious for proprietary systems that make it difficult to integrate different components/devices with one another. The cloud will change this for all manufacturers, and will quickly have an impact on the installer channel.Installers who understand how to sell services and build long-term relationships with the end-users will benefit from the cloud. For installers who continue to live project-to-project, the cloud will mean shrinking margins and lower market share.At VIZpin,...

Protection 1, a full-service business and home security company, recently hired Tim Kudela as branch sales manager for its Seattle office. In his new role, Kudela is responsible for managing the sales activities of the residential and commercial sales consultants in his area, including hiring and training new consultants. Kudela, who has been in the industry for 31 years, began his career as an entry-level technician and has worked his way through all levels of the business up to branch management....