Nashville, Tenn.-based alarm firm ADS Security announced this week that Mel Mahler will be retiring and stepping down as the company’s chairman and CEO.
Mahler, who has been with ADS for 22 years, will assume the role of chairman emeritus. John Cerasuolo, the company’s president and COO, will takeover as CEO and will continue to serve as president. Elmhurst Corporation President Bill Hunt, the majority of partner of ADS, will assume the role of chairman.
"I have valued my relationship with Bill Hunt and the Elmhurst group since we became partners in 1991," Mahler said in a statement. "It is very unusual for an investment partner to stay committed to a relationship for that many years and they are more committed today than ever. It was a moment of faith when they joined me as a partner since I had a very short track record in the electronic security industry at that time. I am pleased with the accomplishments of the senior team at ADS and proud of the fact that I was responsible for hiring each of them. John Cerasuolo is ready to assume the role of CEO. The company is in good hands."
"We are grateful for Mel’s vision and leadership during the past 22 years," said Hunt "He built the company from scratch to make ADS a leader in the security industry. Not only has Mel been a tremendous asset for ADS, but his leadership in the industry has also been exemplary. We will miss Mel’s leadership but we are also excited about taking the next step in the leadership transition plan that we started five years ago with John Cerasuolo."
Cerasuolo said that ADS, which recently increased its line of credit from $25 million to $40 million, will continue to growth through strategic acquisitions. The company currently operates in seven states and 15 markets in the southeast.
"Technology is changing the way we serve customers in the security industry and ADS is well-positioned for the future," said Cerasuolo. "We will continue to acquire quality companies across the southeast and introduce new technology. We expect 2012 to be a record year for revenue and growth."