GRAND RAPIDS, Mich. — With its recent purchase of Grand Rapids, Mich,-based Eagle Security, EPS Security has added 1,100 commercial and residential accounts. Terms of the deal were not released.
“This purchase solidifies our stronghold in the western part of Michigan,” EPS Vice President Jim Zweedyk says.
Facilitated by Davis Mergers and Acquisitions Group, the deal came about after former Eagle Security owner Mike Carrier decided to exit the security business to start a publishing company.
“We actually began as a publishing company before getting into the security industry,” Carrier says. “We had a successful run in the security industry, but we recognize that EPS Security is better suited to serve our customers from their central station at this point. EPS has been incredible to work with, and I’m certain our customers are in the right hands.”
Currently, EPS is converting the acquired Eagle Security accounts to its central station monitoring facility. EPS expects to complete the conversion by mid-April.
As a result of the acquisition, EPS now has nearly 18,000 customers. The 56-year-old company provides access control, fire, intrusion, medical alert, video surveillance and integrated systems to clients throughout Illinois, Indiana, Kentucky, Michigan, Ohio and Wisconsin. Additionally, EPS will retain Eagle Security’s employees.
“Our growth during the past five years is remarkable, and this acquisition serves to poise us for additional growth in 2012 and beyond,” Zweedyk says. “In addition, we’re able to better optimize our central station capacity while providing our new customers with a level of service that we know they’ll be pleased with.”