Security Systems News

JUL 2012

Security Systems News is a monthly business newspaper that reaches 25,100 security installers, product distributors, central stations, engineers & architects, and security consultants. Our editorial coverage focuses on breaking news in all major se

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12 EDITORIAL EDITORIAL Selling on your own terms S PREDICTED, there are more deals in the news this month. Super- regional F. E. Moran bought two companies and is planning to build another central station (see story, page 1). Con- A glomerate Eaton Corp. is buying Cooper Safety parent company Cooper Industries (page 27) for a whopping $11.5b, and they get to move their headquarters to the pre- sumably more tax-friendly Emerald Isle. In Martha Entwistle New York, AFA Protective is moving into the Philly marketplace with the purchase of Sera Security (page 19). Identisys expanded with the purchase of a neighboring com- pany's ID division (page 16). In Chi- cago, SDI has two new private equity investors (page 14). That's not even all of them. We reported several more acqui- sitions this month, and there are expan- sion stories (IAS on page 1)—which obvi- ously takes capital as well. When I was at PSA-TEC in May—in my book, one of the best conferences in the industry, by the way—one of the panel dis- cussions I attended was about M&A activity. As we all know, there's lots of capital looking for a home out there, and there's also a fear—which buyers and brokers keep talking about—that the capital gains tax will increase in 2013. If you're thinking about exiting any time soon, now's the time. During the PSA-TEC panel, Imperial Cap- ital's Jeff Kessler was talking about whether it's a buyers' or sellers' market (page 14). More of a sellers' market on the alarm side, and more of a buyers' market for systems integrators, he said. Integrators are in luck, however, when their company "fi lls a void" for an acquiring company, Kessler said. If you fi nd the right broker, you're more likely to fi nd the right buyer, said Kessler and other panelists—industry attorney Les Gold and Barry Epstein of Vertex Capital. And when you get your deal, especially if you're getting an infl ux of cash and stay- ing on in your business or merging with another company, take a very close look at the terms. High multiples are great, but ensure that there aren't onerous or unreasonable terms attached, the panelists said. And in the case of a merger, think about how the union will work a few years down the road. Make sure that you fi nd more than just the multiple attractive. Most-read stories at from May 17 to June 18 IP video over coax made easy! eBridge Ethernet Adapters . & #'" (' * . . $""$ '- )% & ( ' $ ($ + ( $)( & % ( &' !!$+' $ ! ' # ! * $ $& ")!( %! ( $* & , '( # $ , ! )% - $ , # & '(&) ()& " & + ( $"%$' ( " & ' $* & ' # ! $ , ! More than just power.™ 1.888.258.7669 MADE IN THE U.S.A. LIFETIME WARRANTY 1. Retail giant Lowe's to launch security offering 2. "20 under 40" honorees 3. AT&T bullish on security 4. Leadership change at Stanley CSS 5. Ackerman Security launches fi ve-year plan JULY 2012 SECURITY SYSTEMS NEWS Tim Purpura, PUBLISHER Brook Taliaferro, EDITORIAL DIRECTOR Martha Entwistle, EDITOR Tess Nacelewicz, MANAGING EDITOR Rich Miller, ASSOCIATE EDITOR Peter Macijauskas, E-MEDIA MANAGER SEND PRESS RELEASES TO: EDITORIAL OFFICE Tel: 207.846.0600 Fax: 207.846.0657 ADVERTISING OFFICE Security Systems News 106 Lafayette St., PO Box 998 Yarmouth, ME 04096 Tel: 207.846.0600 Fax: 207.846.0657 NORTHEAST & EASTERN CANADA Tim Purpura, PUBLISHER Tel: 207.846.0600, Ext. 217 Fax: 207.846.0657 SOUTHEAST/MIDWEST/NORTHWEST Kerry Rasor, REGIONAL SALES MANAGER Tel: 207.846.0600, Ext. 273 Fax: 207.846.0657 SOUTHERN CALIFORNIA Nancy Bateman-Kocsis, ACCOUNT MANAGER 310.415.7061 MARKETPLACE & LIST RENTALS Cath Daggett Tel: 207.846.0600, Ext. 300 Fax: 207.846.0657 Glen Halliday, PRODUCTION DIRECTOR Brenda Boothby, CIRCULATION DIRECTOR EDITORIAL ADVISORY BOARD Bill Bozeman, CEO/President PSA Security Network Daniel G. Decker, President Safety Systems Inc. John Mack III, CEO Imperial Capital Jack Mallon, Managing Director Mallon & Associates Dave Merrick, Marketing Director Vector Security Peter A. Michel, CEO iSECURETrac Richard Perry, President Security Networks LLC Lisa Prosser, Owner/President General Alarm Inc. Tony Smith, President Security Finance Associates Greg Spurr, Vice President TD Bank N.A. Tony Wilson, President CMS SUBSCRIPTION INFORMATION Security Systems News PO Box 47860 Plymouth, MN 55447-0860 Tel: 800.869.6882 Publishers of specialized business publications PRESIDENT & CEO J.G. Taliaferro Jr. VICE PRESIDENT Rick Rector For custom reprints or digital reuse, please contact our reprint partner, The YGS Group, by calling 717.505.9701, Ext. 100, or by visiting

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