ROMEOVILLE, Ill. — Adding to its national accounts business, Protection 1 has acquired Wilmington, N.C.-based security systems integrator Camtronic Security Integration. Terms of the deal were not released.
The purchase keeps P1, which has brought on dozens of national clients this past year, on track to building a $100 million national accounts business. Since 1991, Camtronic has provided video surveillance and access control solutions primarily to the national account retail sector. According to Camtronics’ Web site, its roster of clients includes Chanel, Kay Jewelers, Louis Vuitton, Saks Fifth Avenue, Whole Foods Market, among others.
As the company grew, executives decided to take steps to help the business remain strong in the market, and at the same time, keep its current clients happy, Camtronic President and Founder Jay Linton tells SSI.
“We had grown to a point where we knew we needed to take the next steps, which meant private equity funding or an acquisition,” he says. “After months of research, P1 was the clear choice. [P1 CEO] Tim Whall has a stellar track record of running customer-centric operations, and we felt that in terms of an acquisition, this was a great opportunity for them and us.”
Although Linton declined to share how many accounts P1 gained, the deal will give former Camtronic clients access to new services, such as intrusion and fire alarms.
“We were always frustrated that we did not have an intrusion or fire alarm offering,” Linton says. “Without partnering with a solid alarm company, we would have remained doing what we do best - video and access. Our excitement level has increased exponentially knowing that we now have a solid intrusion and fire offering to take to our client base.”
Additionally, the entire Camtronic team will stay on with P1’s national accounts division.
“We could not be happier with our decision to join the P1 family,” Linton says. “P1 clearly has a differentiated and personal way to serve the national account customer, and we believe this will only enhance the service our customers have come to know.”
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION. She can be reached at (310) 533-2419.