Tag: Devcon Security
Richard Ginsburg named CEO of Central Security Group
July 8, 2014Martha Entwistle
TULSA, Okla.—Super-regional security company Central Security Group today named Richard Ginsburg as CEO. Ginsburg, who as CEO of Protection 1 grew it into one of the top three security companies in the country from 2001 to 2010, said he wants to grow CSG into a “significantly larger company.”
“The goal is absolutely to turn CSG into a national company,” Ginsburg told Security Systems News.
Ginsburg replaces Mark Wilson, founder of CSG, who is retiring.
Founded...
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Guardian hires another Devcon exec
April 16, 2014Tess Nacelewicz
I wrote recently about Barry Bruce becoming Guardian Protection Services' new senior VP of corporate sales. Bruce formerly was VP of national sales for Devcon Security, the residential security company that ADT acquired last summer.
Now Warrendale, Pa.-based Guardian has hired another former Devcon VP, Guardian announced today.
Michael Brand, who was VP of sales at Devcon, joined Guardian on April 3 to become director of Guardian's southern region, assuming responsibility for all sales and operations,...
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ADT adds 100,000 customers in fiscal 2013 and its Devcon buy boosts its RMR, but attrition climbs to 13.9 percent
November 20, 2013Tess Nacelewicz
Just about one year after The ADT Corp. split from Tyco International and became a stand-alone, publicly traded company, the company reported today that its RMR climbed 4.7 percent in Q4 and that the rise was helped by its acquisition of Devcon Security this summer.
Boca Raton, Fla.-based ADT, which officially became independent Sept. 28, 2012, reported its Q4 and fiscal year 2013 results today. It added 100,000 subscribers in 2013, bringing its total customer based to 6.5 million, the company said.
ADT...
ADT to acquire Devcon Security for $148 million
July 31, 2013Tess Nacelewicz
BOCA RATON, Fla.—The ADT Corp. announced this morning that it plans to acquire Devcon Security from Golden Gate Capital for $148.5 million. The deal—ADT's first major acquisition since spinning off from Tyco International last fall—brings 117,000 accounts and $3.6 million of RMR. The transaction is expected to close in early August, Naren Gursahaney, ADT CEO, said during an investor call today.
Don Boerema, chief corporate development officer for ADT, which is based here,...
Need lower attrition? Balance price and value
May 7, 2013Rich Miller
YARMOUTH, Maine—When it comes to alarm services, customers can choose packages ranging from a Pinto to a Ferrari. If you're lucky, they'll pony up for a Ferrari. But will they get their money's worth by putting it through its paces?The answer can reveal a lot about patterns of usage, which in turn can serve as a barometer for how much alarm customers should be charged—and the chances of keeping them for the long haul.“Usage is a proxy for value, and by monitoring it we can start...
Pro 1 dives into summer sales with Pinnacle buy
January 28, 2013Tess Nacelewicz
ROMEOVILLE, Ill.—Protection 1 is getting into the summer-sales market by buying some of the assets of Pinnacle Security, one of Utah's leading door-knocking companies.
Protection 1, a traditional-model security company based here that now bills itself as “the largest full-service provider of business and home security in the U.S.,” announced in a news release that it has purchased “select assets from Utah-based Pinnacle Security, including certain proprietary IT infrastructure...
Devcon Security on the block?
November 14, 2012Tess Nacelewicz
HOLLYWOOD, Fla.—Devcon Security, a super-regional based here that has been rapidly downsizing this year after a period of aggressive expansion, could soon be up for sale.Devcon was acquired by San Francisco-based Golden Gate Capital in 2009. Now, according to a statement that Steve Hafen, Devcon's new CEO, provided to Security Systems News, Golden Gate is looking at the possibility of selling the company.“Due to favorable current market conditions and extensive interest by third parties,...
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Devcon's new operations center to shut its doors in September
August 8, 2012Tess Nacelewicz
I reported this summer that Devcon Security, a Hollywood, Fla.-based super-regional, was planning to shut down its new 23,000-square-foot national operations center in Irving, Texas by the end of the year.
Now it appears the closing will take place next month. Devcon plans to close the facility Sept. 5, laying off 197 employees, according to a report this week by the Dallas Business Journal. The facility opened in February 2011.
CEO Steve Hafen previously told me that closing the center was part...
Devcon closing more branches
July 11, 2012Tess Nacelewicz
HOLLYWOOD, Fla.—Devcon Security—a super-regional based here that grew to a national player in the past year and a half—is downsizing to reduce expenses and strengthen the company's finances for future profitability and growth, according to Devcon's new CEO, Steve Hafen.Among the changes will be a winding down by the end of the year of operations at Devcon's new 23,000-square-foot national operations center in Irving, Texas, Hafen said.“Devcon has experienced many changes over...
Devcon moves to 'streamline,' 'trim' after rapid growth
April 11, 2012Tess Nacelewicz
HOLLYWOOD, Fla.—After a rapid expansion during the past 18 months, Devcon Security is streamlining its business but is still planning to grow nationwide, according to the company's new CEO, Steve Hafen.“We went through a period of rapid growth at Devcon, most of which was very positive, and now have looked at ways to streamline and trim so the business functions at its highest level,” Hafen told Security Systems News in an email interview. “We believe this strategy is in line...