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.
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.”
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?
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.
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.
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
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.
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.
