FT. LAUDERDALE, Fla. — ASG Security has acquired National Alarm Systems, a provider of security and fire alarm systems here, in a deal that brings nearly $300,000 in recurring monthly revenue.
Completed on Jan. 31, the transaction allows ASG Security to expand its geographical footprint in Florida. The firm has acquired 9,149 accounts (54% residential, 46% commercial), as well as all 36 National Alarm Systems employees. National’s co-owner, Bob Swayman, will now serve as ASG’s vice president and general manager of the South Florida region.
Established in 1949, National Alarm Systems provides access control, data entry systems, fire, internet monitoring intrusion and video surveillance solutions to customers in Palm Beach, Broward and Dade counties. The firm boasts a successful homeowners’ association (HOA) RMR business model, which appealed to ASG.
ASG ended 2013 with $8.8 million in RMR, an increase of $900,000 compared to the previous year. At least a quarter of that activity came through the firm’s acquisition activity, including $175,000 in acquired RMR in the fourth quarter of 2013. ASG also established three new branches in Long Island, N.Y., Norfolk, Va., and Monroe, La., as well as adding 60 employees to help fuel the company’s planned growth in those new markets.
This year, the firm’s 2014 business plan calls for continued organic sales growth through new product and service offerings including further development of its ASG Connect, ASG Evolve and ASG Video interactive and cloud-based RMR generating services.
With the success of its latest acquisition, ASG, which recently bolstered its credit facility with a $30 million expansion to $300 million, predicts 14% growth while surpassing $10M in RMR entering 2015.
Davis Marketing Group helped National Alarm Systems with the sale.
SSI continues to report on this story.
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