San Francisco-based private equity firm Golden Gate Capital, owner of Devcon Security, announced Thursday that it has appointed Former Protection 1 CEO Richard Ginsburg to serve as the new chief executive at Devcon.
Based in Hollywood, Fla., Devcon is the 13th largest security monitoring company in the U.S. and provides services to nearly 300,000 residential and commercial customers.
"Devcon has established itself as a significant player in the evolving security market," said Christopher B. Munday, operating partner for Golden Gate Capital in a statement. "Devcon will benefit from Richard's expertise, leadership and vision as we take Devcon forward. Golden Gate Capital is committed to the thriving security space, and we are pleased to have attracted someone with Richard's level of experience to assist us in leading the company."
Ginsburg founded Guardian International in 1993 and served as its CEO through 2001, at which point he joined Protection 1 as its president and CEO. He led Protection 1 for nine years until it was sold to private equity firm GTCR in 2010.
"Devcon is well positioned in an expanding market space," Ginsburg said in a statement. "I'm pleased for the opportunity to work with Devcon's management team and a private equity partner of Golden Gate Capital's caliber, continuing Devcon's development as one of the top security companies in the industry. The roots are planted and we have the people, systems, and services to compete effectively, and I am very excited for the future of Devcon."
For more information about Devcon, visit www.devconsecurity.com.