SARASOTA, Fla. — Rapid Security Solutions (RSS) has acquired Lake Worth, Fla.-based Armenti Construction and Access Control (ACAS). Terms of the deal were not disclosed.
ACAS provides turnkey gate automation, video and access control systems to Palm Beach, Broward and Martin Counties, as well as the Miami-Dade and St. Lucie areas. The deal allows Sarasota, Fla.-based RSS, which has operations in Tampa, Fla., Orlando, Fla., and Cape Corporal, Fla., to expand its footprint into Palm Beach County.
“ACAS brings a tremendous capability in gate systems to our repertoire,” RSS President and COO Steve Paley tells SSI. “They are heavily entrenched in the property management and gated community vertical. We can layer all the technology that we’ve been providing our clients to theirs, so it’s a nice synergistic fit in terms of solutions we can offer our new customers.”
RSS will add more than 1,000 commercial accounts to its clientele; however, because ACAS isn’t a traditional alarm company, the firm will not bring in a significant amount of recurring monthly revenue (RMR) — at least not yet.
“They have some preventative maintenance agreements in place, and we hope to build on that with a lot of technologies that we offer,” Paley says.
About 10 ACAS employees will join the RSS ranks, while former owners Bill and Danielle Armenti, who are leaving the business, will stay onboard until the transition period ends. In the near future, Paley, who serves as president of the Electronic Security Association (ESA) of Florida, hopes to provide cross-training opportunities for his newly blended team to expand their skillsets.
In addition to acquisitions, RSS plans to continue growing the company organically by developing solutions for clients, concentrating on building a strong team and marketing efforts.
Steve Rubin of Davis Mergers and Acquisitions Group assisted ACAS in the transaction.
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION magazine. She can be reached at (310) 533-2419.
· Access Control
Davis Mergers and Acquisitions Group
Rapid Security Solutions
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