Brinks Home Security announced on Thursday that it has acquired approximately 30,000 residential and small business and 8,000 large commercial alarm monitoring contracts from Select Security, totaling approximately $2.0 million in RMR.
According to a press release, Brinks Home Security will retain the majority of Select Security’s commercial sales, field technicians, and customer service employees, as well as certain office locations to offer the highest level of service to these customers.
“We are excited about the value this transaction creates and its alignment with our core objective of creating profitable accounts at scale and holding for life, while also opening the door for similar opportunities in the future,” Brinks Home Security CEO William Niles said in a statement. “I am also thrilled to welcome the Select Security sales organization, technicians and customer care employees to the Brinks Home Security family. We are also excited to expand our footprint into the large commercial security segment.”
Patrick Egan launched Lancaster, Pa.-based Select Security in 2003 following a 25-year success story as the founder of Commonwealth Security Systems and quickly established a foothold in the northeast before expanding westward in the years to come. By 2016, Select Security was established as one of the nation’s largest independently owned electronic security and life safety systems providers.
Select Security was named the fastest-growing North American security integrator in 2019 by Security Business magazine; and in fact, the company was a fixture in the annual rankings (the rankings are currently on hiatus). In 2017, Select Security made what is by far the largest acquisition in its history, purchasing all of the U.S.-based accounts from AlarmForce in an $11.5 million deal that nearly doubled Select Security’s customer base by nearly 30,000.
Read more about Select Security's journey: www.securityinfowatch.com/21074244
Imperial Capital served as the exclusive financial advisor to Brinks Home Security in the transaction.
