WYOMING, Mich.—Midstate Security has seen significant growth over the past 10 years, since Dave Nemmers and his partner purchased the business from Johnson Electric.
The company, founded in Grand Rapids, Mich. in 1981, was in Grandville when purchased by Nemmers, who moved the company five years ago to a new building here. Since taking over the company, Nemmers said that Midstate has doubled in size in terms of topline revenue and has grown to 78 employees from 46, with many of the original employees still at the company.
WESTMINSTER, Colo.—PSA recently announced a partnership with Matterhorn Consulting to enable PSA members to hire military veterans.
The Veteran Hiring Program, SalesMarines, is a new service from Matterhorn Consulting that helps veterans from the United States military find employment, matching up employers’ needs with veterans’ skill sets. The team is led by Paul Boucherle, a Marine Corps veteran who served during the Vietnam War. His first-hand experience with the military has motivated him to help veterans transition their military skills into the civilian workplace.
ST. LOUIS and PLANO, Texas—Interface Security Systems on Aug. 3 announced the completion of a $600 million refinancing for a new capital structure that will facilitate strategic growth and expansion, with substantial contributions of new growth equity capital of $125 million from SunTx Capital Partners and Prudential Capital Partners.
NASHVILLE, Tenn.—In a deal finalized on Aug. 3, ADS Security purchased ERMC Security Solutions’ account base, bringing more than 600 accounts under ADS’ Chattanooga branch.
“This is very much in-line with many of the fold-in acquisitions that we do. It helps us to build our presence in important markets,” ADS Security’s president and CEO John Cerasuolo told Security Systems News. “We’re already a very significant player in Chattanooga. This gives us the opportunity to extend that reach through these additional customers and then leverage those additional customers for referrals and growth opportunities beyond.”
LANGHORNE, Pa.—LifeShield, a DIY installed and professionally monitored security solution, was acquired by Hawk Capital Partners, the firm announced on July 27.
Hawk Capital appointed David Tanzer as the company’s CEO. “My previous experience involved working in several other sectors where direct-to-consumer customer acquisition was critical to the success of the company,” he told Security Systems News. Tanzer served as either the president or CEO for The Noodle Companies, GT Brands and Primedia Consumer Magazines.
LifeSheild’s sale to Hawk Capital Partners was finalized in May, according to Tanzer.
OREM, Utah—Home security and automation company NorthStar recently announced its new Authorized Affiliate Funding Program.
“It's a traditional dealer funding program where we work with independent, licensed companies that originate contracts and do the installation for NorthStar,” Nick Perry, vice president of business development at NorthStar, told Security Systems News. “We are very aggressive on up-front multiples, we also have a very aggressive residual, and an equity program.”
PARSIPPANY, N.J.—Securitas, a global knowledge leader in security based here, announced on Aug. 1 that Jeremy Brecher has been promoted to chief technology officer and has become a member of the Securitas North America Division Management Team.
As CTO, Brecher's new role will focus on customer-facing technologies across all business lines in the United States, Canada, and Mexico, including cloud-based customer portals, data analytics and artificial intelligence (AI) technologies. He will be championing the development of the next generation cloud, security-as-a-service (SaaS) and managed customer services for Securitas.
SAN FRANCISCO—Umbo Computer Vision, an artificial intelligence company building autonomous video security systems for businesses and organizations based here, on July 20 announced a new partnership with PSA Security Network, a security and systems integrator cooperative.
DETROIT—Huron Capital, an operationally focused private equity firm based here, on July 20 announced its fire detection and security services ExecFactor platform, Sciens Building Solutions, has acquired Pleasanton, Calif.-based Sabah International Inc.
“We think Sabah is a great addition to the Sciens platform,” Terry Heath, Sciens CEO, said in the announcement. “Sabah gives us a meaningful presence on the West Coast, with an impressive customer list and a strong reputation in the market.”
NEWTOWN SQUARE, Pa.—My Alarm Center, a national home security and automation provider based here, was recently sold to global investment firm Oaktree Capital Management, headquartered in Los Angeles. The deal closed on July 14.
“We kicked off an effort to recapitalize the business about a year ago, looking to strengthen our financial position, our balance sheet, and give us a better opportunity to grow our business,” Amy Kothari, My Alarm Center’s president and CEO, told Security Systems News. The company ultimately decided to seek an “infusion of new cash equity and a complete refinancing of our debt.”
CALHOUN, Ga.—Owen Security Solutions, a regional alarm company based here, recently completed the largest acquisition in the company’s history, adding on more than 1,700 accounts when it purchased ACS Security-Rome.
“This is the most exciting acquisition we’ve done so far,” Justin Owen, company president, told Security Systems News. “[ACS] is somebody we’ve actually competed against for the last 15, 20 years. It’s always been a respected competitor.” The deal was finalized on July 18.
ENGLEWOOD, Colo.—Ascent Capital Group, MONI’s parent company based here, announced yesterday that Fred Graffam will succeed Michael Meyers as Ascent’s CFO as well as MONI’s CFO.
Graffam told Security Systems News that he will be overseeing regulatory filings from a finance perspective and “Making sure that the accounting systems and control environment at the company remain strong, as it is now. And then, from that perspective, it’s really a focus on making sure that the initiatives of the company are being properly funded, that resources are being allocated in a way that makes sense.”