Zeus Fire and Security’s rapid acquisition strategy is entering a new phase as founder Scott R. Elkins transitions from chief executive officer to executive chairman while Michael Cox assumes leadership of the company as CEO.

The leadership change comes as Zeus, formed with Access Holdings in 2022, says it has grown into the nations eighth-largest fire protection, security and life safety company. During that time, the company has expanded across the United States and Canada through a steady stream of acquisitions, including its recent acquisition of SEi, while maintaining what Elkins describes as a “house of brands” operating model.

The company characterized the move as the culmination of a long-planned succession process intended to strengthen leadership capacity while positioning Zeus for its next phase of growth. As executive chairman and a member of the board of directors, Elkins will remain focused on strategic growth initiatives, acquisition strategy, industry relationships and long-term value creation while working alongside Cox and the executive leadership team.

“We believe Zeus has now earned the right to become one of the largest and leading fire and safety platforms in the United States, and as we look ahead to the next phase of growth for Zeus, we wanted to ensure we had the long-term leadership, operating experience, and succession plan required to build a category leading business,” Elkins said in the announcement. “This transition is a proactive step made from a position of strength.”

The strategy behind Zeus’ growth

In an interview with Security Business Editor-in-Chief Paul Rothman before the leadership announcement, Elkins discussed the acquisition strategy and operating philosophy that have guided Zeus’ rapid expansion.

One of those priorities remains mergers and acquisitions. Rather than pursuing companies simply because they are available, Elkins said Zeus continues to look for businesses that fit its culture and long-term vision.

“We just closed on PM Alarm, which adds another infill to our larger hub called Gallaher & Associates,” Elkins said during the interview. “We are going to continue our M&A strategy of partnering with great businesses that we want to own rather than just businesses that are for sale.”

That philosophy also shapes how Zeus integrates acquired companies. Rather than replacing established local brands with a national identity, the company intentionally preserves names that carry strong regional recognition.

Using Gallaher & Associates as an example, Elkins said customers continue doing business with the local company they know while Zeus provides centralized support behind the scenes.

“We operate very intentionally as a house of brands,” Elkins said. “Gallaher is an important company with an important name and an important market. What we do every day is life safety and security. That name matters in Tennessee and we would never want to go in and change that name.”

Instead, Zeus provides what Elkins described as a shared-services model that supports local operating companies with functions including sales and marketing, monitoring, customer service and financing. By centralizing those responsibilities, he said local leaders can devote more attention to employees and customers.

“We can take care of the back-end stuff and make that easier, giving the operators time to do what’s most important, which is help their customers and help their employees,” Elkins said.

The private equity equation

The interview also offered insight into Elkins’ views on private equity, an increasingly influential force across the security and fire/life-safety industries. While acknowledging that some owners remain skeptical, he argued that private equity’s reputation does not always reflect the partnerships being built within the industry today.

Elkins said he had already begun looking for the right long-term home for his own family business before partnering with Access Holdings. He said the firm’s preparation and willingness to rely on experienced operators convinced him the relationship could accelerate growth rather than simply deliver financial returns.

“They knew about as much of this space as many operators I’ve ever met,” Elkins said of the Access team. “But they were willing to acknowledge one critically important thing: they weren’t operators and they needed an operator to help complete the thesis.”

That collaborative approach, he said, ultimately produced a stronger strategy than either side could have developed independently.

For independent integrators considering their own future, Elkins said today’s technology landscape is making it increasingly difficult for smaller companies to keep pace alone. He said many owners reach a point where the investments required to remain competitive become more demanding than they wish to undertake.

Rather than viewing an acquisition as the end of a company’s identity, Elkins said Zeus seeks to preserve what made those businesses successful in the first place.

“My former business, UAS, still exists. That name exists. It’s still there. It’s an important name in the industry,” Elkins said. “They have an opportunity to continue in the space, continue with their legacy, continue to have their business grow under that business’s name and be part of something bigger.”

Cox, a U.S. Navy veteran, joins Zeus after helping lead Crete United from approximately $300 million to more than $1 billion in revenue.

Before joining Crete United, he held executive leadership positions with Bilfinger North America, Austin Industrial, Graycor Construction and Brand Energy Solutions, where he oversaw operations, business development and corporate strategy.

“Zeus has built something truly special,” Cox stated in the announcement. “The company has an exceptional culture, a strong leadership team, outstanding operating businesses and a significant runway for growth. My focus is simple: build on the strong foundation already in place, continue investing in our people and customers and help the organization scale while staying true to the values that have driven its success.”