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Sitting pretty in Kansas: Pro One gets $22.75m windfall

January 6, 2010Martha Entwistle

LAWRENCE, Kan.--The new year is starting off happy here for Protection One, which today announced it received a $22.75 million payment from Westar, its former majority owner. "It's a significant amount of money," said Richard Ginsburg, CEO of Protection One. "In an era when companies are struggling, we've paid down our debt a lot, $74 million throughout the year, so we're entering 2010 with $20 million cash on hand." The $22.75 million is a post-closing adjustment from an acquisition, which took...

Protection One, Protection One University, Richard Ginsburg