Tri-S Security Corp., a provider of security services and equipment for federal government and private entities, today announced its subsidiary, Paragon Systems, Inc., through a joint venture with Southeastern Protective Services Corp., has been chosen by the Social Security Administration (SSA) to provide security services to its Metro West Complex in Baltimore, Md. The joint venture, called Southeastern Paragon (SEP), won the award for a base year plus four one-year extension periods; the contract is expected to generate approximately $19 million in revenues for SEP over five years.
The SSA contract, estimated to begin on June 1, 2006, requires SEP to supply both armed and unarmed guards to the north and south blocks of SSA's Metro West Complex, one of the largest SSA facilities in the country. This is the second contract awarded to SEP in the past 30 days and the fourth new contract award for Paragon Systems since Jan. 1, 2006. Paragon Systems' new business contracts awarded year-to-date have an estimated value of $45 million in revenues over five years.
"Our partnership between Southeastern Protective Services and Paragon Systems is a joining of two strong companies," said Marty Melton, president of Southeastern Protective Services Corp. and SEP. "We are proud to partner with Paragon Systems where our organization can continue to learn and grow. We are also proud that the Social Security Administration has selected our joint venture to secure their Metro West Complex. We take great honor is protecting this important facility."
"We are excited that the Social Security Administration has selected SEP as its security services provider," said Leslie Kaciban, Jr., president of Paragon Systems. "Our joint venture was established under the Small Business Administration's Mentor Protege Program and the relationship is already producing great success and added value for our customers. We look forward to providing the Social Security Administration the same critical customer service we provide all our federal government clients."