MINNEAPOLIS — VideoTronix, Inc. (dba VTI Security Integrators) has purchased Systems Integration Corp. (SIC) for an undisclosed amount.
Headquartered in Minneapolis, VTI Security, a Security-Net member, has offices in Colorado Springs, Colo., Denver, Golden, Colo., Milwaukee, Amarillo, Texas and Cheyenne, Wyo. With its purchase of Boulder, Colo.-based SIC, VTI Security has expanded its footprint in the Rocky Mountain region.
“The merger of the SIC operations into our existing office in Golden will greatly expand our business and resources making us the largest privately held security systems integrator in the Colorado marketplace,” VTI Security President and CEO Thomas Asp says.
Prior to its purchase, VTI Security executives researched competitors in the Colorado market to see what would be a good fit for the company. Part of what made the acquisition appealing for the company is that SIC had a similar customer service culture, offered similar product lines, and had a strong customer base, according to VTI Security Executive Vice President Bryan Viau.
“We are diligent in understanding the marketplace where we conduct business, and that involves knowing other business owners,” he tells SSI. “Part of our growth plan has always been acquisitions where they make sense. We believe in earning a ‘Trusted Business Partner’ status with our customers, and SIC had a similar set of values, which made the merging of companies a natural fit.”
Founded in 1980, VTI Security designs, stages, deploys and supports IP/IT-based systems to all areas of security including video surveillance, access control and command center design. With 145 employees, the company easily transitioned roughly a dozen SIC workers into VTI’s operations.
“Thanks to planning, we had a very smooth process,” Viau says. “We were able to close the transaction on Friday, Nov. 2, and by Monday [Nov. 5], the SIC employees were operational at VTI, but continued to work with the customers they had been assigned to at SIC. The continuity of service to the customer was very good.”
As part of the deal, VTI Security has acquired only commercial accounts. Viau declined to say how many accounts and how much recurring monthly revenue (RMR) the transaction brings in for the firm. However, he says that SIC had a “number of long-term service agreements in place, which meshed perfectly with our beliefs and business model.”
VTI Security plans to continue to build the company through organic activity and acquisitions in existing or new markets. For other companies seeking to grow through acquisition, Viau offers some advice.
“One key to a successful acquisition is finding a partner with a similar culture of customer service,” he says. “It makes the transition of customers and employees much smoother.”
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION magazine. She can be reached at (310) 533-2419.