Dallas-based Brazos Private Equity Partners announced today that it has purchased two of the largest security product distributors in North America, Tri-Ed Distribution and Northern Video Systems.
According to a statement issued by the firm, the two companies will be combined and operate as Tri-Northern Security Distribution. Terms of the deal were not disclosed.
"I think that we'll become a more significant, more efficient, and better performing distribution operation and that can only help to provide our customers with a better value proposition and hopefully, we'll continue to grow and become more and more significant," said Tri-Ed CEO Steve Roth.
Roth added that bringing Tri-Ed and Northern Video Systems onto a single-computer platform operationally will be one of the biggest challenges of meshing the two companies operations, but he indicated that they should be able to "leverage the synergies" between them quickly.
"We were both significant national and North American players before our merger, but we now think we've added scale to our significance and we become a more significant force both for our suppliers and our customers," he said. "With this combination and the achievement of the scale we now have, we become a bigger and more important player in the channel."
Both companies, which combined have 41 sales offices, will retain their locations and executive staffs. Senior management will also take on new roles in the combined company. Roth will assume the role of CEO, with Mark Haney to serve as president, Pat Comunale as chief operations officer, Paul Haney as executive vice president, and Brain James and James Rothstein as senior vice presidents.
"These transactions represent an opportunity to create a leading distribution company serving the large and growing North American electronic security market. Tri-Ed and Northern are already well-established leaders in their niches, and we look forward to working closely with the management team of the combined company as they build upon each unit’s respective strengths to deliver additional value for customers, employees, suppliers and other stakeholders," said Randall Fojtasek, co-founding partner of Brazos in the statement.