ROCHESTER, N.Y. — Doyle Security Systems, based here, has expanded its footprint in upstate New York with the acquisitions of Loss Prevention Experts Security & Fire Alarm Systems (LPE) and JMS Alarms. Terms of the deals were not released.
“We have had accounts in the Albany area for a number of years,” Doyle Security Senior Vice President and CFO Jim Quirin tells SSI. “We have always thought Albany could be a natural area for expansion. Over time, we developed relationships with LPE and JMS. The time was right.”
Facilitated by Davis Mergers and Acquisitions Group, the transactions add roughly 2,000 commercial and residential accounts to Doyle Security’s customer base, bringing its total to roughly 24,000 clients. The acquisitions will also increase Doyle Security’s recurring monthly revenue (RMR) by 6%, according to Quirin. The company currently earns roughly $11 million in annual revenue.
Started in 1919, the family owned and operated Doyle Security has offices in Buffalo, Rochester, Syracuse and Erie, Pa. The company, which owns a UL-Listed monitoring center, provides managed access control, CCTV, intrusion alarms and medical alarm systems to its clientele. New clients can also benefit from Doyle’s Total Connect offering, a home automation suite that allows users to remotely control video, temperature and lighting.
The company will retain some of LPE and JMS’ employees. Former LPE owner Ed Stano Jr., has signed on as general manager of Doyle Security, Quirin says.