Security products distributor Tri-Northern Holdings, Inc. (Tri-Ed/Northern Video Distribution) announced on Wednesday that it has been acquired by Audax Group. Financial terms of the deal were not disclosed.
Based in Woodbury, N.Y., Tri-Ed/Northern Video has 47 locations across the U.S. and Canada and serves both the residential and commercial markets.
According to Pat Comunale, president and CEO of Tri-Ed/Northern Video Distribution, the acquisition will not change anything from an operations perspective for the company's employees, vendors or customers.
"But for the general business overview, this really strengthens our ability to continue on our buy and build platform, whereby we're going to be able to continue green fielding new locations and making further acquisitions to really grow the distribution space like we have over the past couple of years with Brazos," Comunale explained.
He added that Tri-Ed/Northern Video's senior management would also be staying place and that they are still on their way to achieving their stated goals.
"Seven years ago when we acquired the business from Tyco, our mission statement was always to be the largest independent security distributor in North America. We got well on our way when we merged with Northern Video a couple of years ago and when you look at where we are in our process – the analogy I would use is if this is a baseball game, we're in the fourth inning. We believe this can be a billion dollar business and we're going to continue to buy and build."
Comunale said that they plan to make strategic acquisitions and fold them into the company's infrastructure moving forward.
"Hopefully, we'll have a few announcements shortly, here in the second quarter. We have very aggressive growth plans for 2012 and beyond," he said.