Acquiring Secured Success

SD&I Fast50 #4 (tie): Carey Boethel is growing Securadyne into another winning security business


There is no doubt that Securadyne Systems is a company on the fast track; and Carey Boethel, its president and CEO, is the driving force for this Fast50 standout.

Securadyne, headquartered in Carrollton, Texas, is barely reaching its third birthday, yet it exploded out of the gate with nearly $70 million in revenue in its second year and is #4 on this year’s Fast50 — a 108-percent growth rate over its 2012 numbers.

Now at roughly 300 employees, the company just about doubled its number of employees from 2012 to 2013. Almost all of its business is in the commercial sector.

Boethel was formerly vice president and business unit head for Siemens’ Security Solutions business unit, where he earned a solid reputation when he orchestrated a complete business turnaround and launched the company’s managed services and integrated systems businesses. “The business plan and investment thesis for Securadyne was finalized in early 2011 and funding was secured in Q3 of that year,” Boethel recounts.

He founded the company in Sept. 2011 in partnership with Pamlico Capital. The initial operating platform, SecureNet Inc., was acquired five months later in Dallas. Securadyne started out with one employee and no revenues, but “today we have over 300 employees operating out of 16 branches with roughly $70 million in revenue,” Boethel says. “Four key acquisitions over the last two years have provided us with an excellent operating construct, and our management team has worked tirelessly to hire and develop the talent required to manage that growth and take the company to the next level.”

 

Behind the Growth

You won’t be alone if you are a touch envious of Securadyne’s fast growth rate. “Our performance in 2012 was supported by both acquisitions and aggressive organic growth, collectively delivering over 108% revenue growth,” Boethel explains.

In August, they acquired Advanced Control Concepts of Pensacola, Fla., and in December they acquired Intelligent Access Systems of North Carolina. “Both were exceptional companies,” Boethel says. “We also saw significant organic growth in our existing business — especially within our national accounts portfolio.

“One of our unique value propositions is that we are able to service large global customers in ways that our multinational competitors cannot, and, as a result, national accounts represents our most significant growth potential,” Boethel adds.

The key components of the firm’s service-oriented culture most often emphasize consistency, reliability and accountability — in fact, that culture is emblazoned on the company’s “culture badge.”

If there is a single seed Boethel wants to plant in everyone’s head, it is his passion about being reliable and accountable. “These are two of our most important core values,” he says. “We believe that reliability comes from being consistent, and consistency is enabled by standardization. As a result, we have dedicated ourselves to standardizing every aspect of our business and by doing so creating a consistent customer experience across our entire business. Everything we do is designed to create a positive and consistent customer experience.”

Still, just about everyone feels that their business is all about customer experience. What happens when two dissimilar ideas of how to accomplish the ultimate customer experience run head-on into one another?

 

Blending Cultures

Any time a corporation does acquisitions, as Securadyne has, the parent company acquires very different ways of doing business and highly disparate cultures. “The most difficult part of integrating companies is merging the cultures and creating organizational consistency,” Boethel acknowledges. “Frankly, I do not believe that any company in our space has ever really gotten this exactly right.”

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