Security Systems News

JUL 2018

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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PROTECT WHAT YOU VALUE 1-800-438-4171 • www.security-central.com S E C U R I T Y C E N T R A L THERE IS ONLY ONE YOU CAN TRUST WITH CONFIDENCE! MONITORING | TECHNOLOGY | QUALITY | & MORE FAMILY OWNED AND OPERATED FOR THREE GENERATIONS. Proguard secures credit facility, makes its f irst buy By Paul Ragusa B A S A LT, C o l o . — P r o g u a r d P ro t e c t i o n S e r v i c e s I n c . , a f u l l - s e r v i c e , f a m i l y o w n e d security company based here, a n n o u n c e d re c e n t l y t h a t i t secured a $2.75 million senior secured credit facility through CIBC Bank, and completed its first acquisition—the purchase of more than 1,900 accounts and other assets from Allied Security Group of Brecken- ridge, Colo. "We are very excited to be working with such a great bank Company secures $2.75 senior secured credit facility, acquires Allied Security Group, adding nearly 2,000 accounts and lucky to have the leader- ship of David Stang in this pro- cess," Frank Bauer, Proguard Protection Services president, told Security Systems News. "With this acquisition, keep- ing the team and local support in place was our primary goal, and customers who have come to rely on Allied will still have that local presence." B o t h R e g g i e H a r m o n a n d Kevin Eisenman, former co- owners of Allied Security, will remain with the company, along with their entire staff, and the company will continue to oper- ate as a branch of Proguard. Bauer said that he is excited to bring on the Allied team, not- ing, "They are a perfect fit for expanding our operation into Breckenridge and surrounding areas. We are very fortunate to be able to have them as part of the Proguard family." David A. Stang, founder and president, Stang Capital Advi- sory LLC, told SSN via email, "Stang Capital Advisory was happy to lead the acquisition financing effort for Proguard, a strong, growing regional secu- rity alarm company. This deal demonstrates the solid demand for quality transactions from industry banks." Bauer pointed out that he sees great growth potential for Allied and is excited to bring to the company the same kind of the technological innovation that he brought to Proguard when he took the company over from his father. "Allied is not a company that needed fixing or was hurting in any way—fantastic profit mar- gins, strong market leader, and amazing customer service his- tory—it just had some owners that needed some help to grow the company," he explained. "Allied has a lot of organic growth potential and with the right software platform and business upgrades they can lift the ceiling and grow even stronger." Allied's accounts are an even mix of residential and com- mercial, while Proguard does around 85 percent residential, said Bauer. "Bringing Allied on board definitely helps us to strength- en our commercial offering and having some of the Allied team with their certifications will strengthen us moving forward in that market and fill in the gap between the Aspen market and the Breckenridge market," he noted. "Our clients demand a cer- tain level of service that you can only provide with local support, so we are going to let Allied do what it does best— stay in its local area and sup- port its local clients. That really shows our dedication to cus- tomer support." The team at Davis Mergers and Acquisitions Group was the broker representing Allied and assisted both companies in achieving this successful trans- action. Proguard Protection Services is family owned and operated since 2001. SSN www.securitysystemsnews.com july 2018 SEC u RIT y S y STEMS NEWS Residential s ystems 18

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