Devcon, a Florida-based firm that provides installation and monitoring of electronic security systems has officially been sold to Golden Gate Capital, the company announced on Thursday.
Under the agreement, Devcon will continue to serve its existing customers as normal as the deal with Golden Gate should only serve to strengthen its presence in the electronic security market.
According to Robert Farenhem, president and CEO of Devon, the company will the financial backing of Golden Gate will now seek to increase its market presence and focus on overall growth.
With ample access to capital from our current fund, we believe Devcon is well positioned to take advantage of those growth opportunities,” Golden Gate Capital Principal John Gilligan said in a prepared statement. “This investment demonstrates Golden Gate’s continued commitment to the security space, and we are happy that Devcon joins Pinnacle Security in our portfolio.”