Security Systems News

MAR 2017

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General Security acquires NY Merchants Protective By Spencer Ives PLAINVIEW, N.Y.—General Security, a full- service security company based here, recently acquired New York Merchants Protective Co., based out of New York City, adding 3,500 accounts. "We were interested in doing a little more business in Manhattan and [the acquisition] certainly did that. It opened up a new group of customers to us," Peter Allen, general manager for General Security, told Security Systems News. The acqusition closed Nov. 3, 2016, he said. "We divested of our retail/consumer busi- ness as we are primarily focused on business- to-business relation- ships which involve larger scale integration and intelligence based monitoring and ana- lytics," Rick Rockwell, owner of NYMP, told SSN via email. PSB remains in the security industry with Unlimited Technology, a Penn- sylvania-based integrator. General Security has about 46,000 accounts now, and monitors about 19,000 additional wholesale accounts in its central station. "It was a very good mix of residential and commercial—had some city fire accounts. It was well scattered," Allen said. NYMP's base was about 60 percent residential and 40 per- cent commercial, he said. Allen said that the company is currently maintaining the NYMP brand, but may change the name in the future. New York Merchants Protective Co. is an established name in the Manhattan area, Allen said, not- ing that the company was founded in 1910. The company brought on 10 employees from NYMP, including salespeople, techni- cians and administrative employees. How did the company approach the new customer base? "We keep as much the same as we can," Allen said, adding that the cus- tomer invoices will look very similar, with Merchants' branding as well as General Security's name. "Hir- ing the people is great, because the customer sees the same faces, sees the same service techs that they're used to." T h e c o m p a n y typically does several acquisitions a year, Allen said, adding that the company's whole- sale central station is the source of many smaller acquisitions as dealers choose to leave the business. In addition to General's headquarters here, the company also has locations in Winston Salem, N.C., Richmond, Va., and in Upstate New York in Buffalo, Rochester, Albany and Utica. Barry Epstein, president of Vertex Capital, advised PSB on the transaction. "This was a strong regional play for General Security as NYMP's account geography was a per- fect overlay onto parts of General's account base," Epstein said. SSN Connected products driving global smart home growth By Paul Ragusa YARMOUTH, Maine—Following Parks Associates' research that came out of the Consumer Electronics Show in January showing approxi- mately 26 percent of U.S. broadband households today now own a smart home device—up from 19 percent at the end of 2015—several more studies on the growth of the smart home have popped up. For example, a new report from Zion Market Research, titled "Smart Home Market: Global Industry Per- spective, Comprehensive Analysis, and Forecast, 2016-2022," finds that the global smart home market— valued at around $24.10 billion in 2016—is expected to reach approxi- mately $53.45 billion in 2022, grow- ing at a CAGR of slightly above 14.5 percent between 2017 and 2022. " P ro m i n e n t d r i v e r s o f s m a r t home adoption are energy efficien- cy, home security, entertainment, convenience/productivity, remote health monitoring and connectiv- ity," according to Zion. Speaking of connected home appli- ances, the U.S. market is expected to grow at a CAGR of 39.47 percent during the period from 2016-2020, according to another study released this week, this one by research firm Wiseguyreports.com. "Connected home appliance com- panies are focusing on the untapped consumer segments to boost market revenue," according to the study. "The market is expected to witness rapid growth in the forecast period due to the increased awareness of connected devices." In addition, the global smart home shade market is also set to grow rap- idly in the coming years. According to Technavio, the global smart shade devices market is expect- ed to grow at a CAGR of close to 90 percent during the forecast period from 2017-2021. Region wise, North America leads the market, holding a share of almost 50 percent in the market (2016 fig- ures). This trend is expected to cot- ninue. SSN "We were interested in doing a little more business in Manhattan and [the acquisition] certainly did that. It opened up a new group of customers to us." —Peter a llen, General Security WHOLESALE MONITORING FUNDING PROGRAM LOAN PROGRAM SALES TRAINING (855) 776-2210 www.dynamarkmonitoring.com REGISTER TO OUR PRIVATE PARTY DURING ISC WEST WIN UP TO $3,000 IN CASH PRIZES! For more information please visit www.dynamarkparty.com Space is limited, RSVP today. everything under one roof SE c U r ITY SYSTE m S NEWS march 2017 www.securitysystemsnews.com Residential s ystems 27

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