CHAMPAIGN, Ill. — F.E. Moran, based here, added 11,000 commercial, residential and national accounts to its client base after recently acquiring two Midwest alarm companies. Terms of the deals were not disclosed.
Facilitated by Davis Mergers and Acquisitions Group, F.E. Moran purchased Indianapolis-based Myers Protection Services (MPS), which adds 3,000 accounts, 75% of which are residential. The deal also brings in $95,000 in recurring monthly revenue (RMR), F.E. Moran President Brett Bean tells SSI.
Bean, who grew up in Indiana, has studied the Indianapolis market for quite some time. The goal, he says, is to become a major player in Indiana and double RMR in that marketplace within three years.
“MPS provides a platform for aggressive expansion in the Indianapolis market. This deal was a perfect opportunity to align with [former MPS owner] David Myers, who shares the same aggressive growth goals that we do,” Bean says.
Myers and his staff will remain with the company, helping to expand F.E. Moran’s footprint in the Wichita and Kansas City regions.
F.E. Moran also purchased Hutchinson, Kan.-based SNC Security Systems, adding $180,000 in RMR and 8,000 accounts with the majority being corporate-chain clients. The transaction works well for the firm, which has made great strides to bolster its national accounts business.
“The national accounts market is a large growth area of our company,” Bean says. “The vast experience in national accounts among the staff was a big draw in this acquisition. We gained 35 staff [members] to help facilitate our growth.”
Prior to the acquisition, SNC operated its own central station, which is now integrated with F.E. Moran’s wholesale monitoring division, DigitalRiver Monitoring Solutions. Additionally, the firm will now offer new customers with more services, such as managed access and IP video.
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION. She can be reached at (310) 533-2419.