GARDEN CITY, N.Y. — World Wide Security has acquired full-service electronic security systems integrator CCTV Security for an undisclosed amount.
The deal, which closed July 17, will bring World Wide’s annual revenues to more than $10 million, Newsday reports.
Founded more than 40 years ago, CCTV Security of Long Island City specializes in high-end security solutions, such as perimeter, biometrics, barrier, video surveillance and access control for foreign governments, museums, galleries, parking facilities, offices, hotels and high-rise apartment buildings. The acquisition of CCTV Security allows World Wide Security to expand its footprint in New York City, Long Island, New Jersey and Westchester County.
“We chose CCTV Security because of their strong CCTV and access control presence in New York City, an area where we wanted to concentrate on,” World Wide Security President and CEO Kenneth Mara says. “Their client base is comprised of blue-chip corporations that will now be able to purchase additional security services that were not available through CCTV Security such as intrusion detection, fire and smoke alarm systems and monitoring.”
CCTV Security’s founding owner Wyn Grant, along with eight other of the firm’s employees, will join World Wide Security, bringing the total number of workers to 69. Grant will serve as the manager of CCTV services, a new division formed through the acquisition.
“Wyn and his business partner Gary Gray built the company together and we are very fortunate to have Wyn staying on to grow the CCTV division,” Mara says. “He has been in the security business for 40 years and has incredible industry knowledge.”
Having completed more than a half-dozen acquisitions of area companies in the past five years, World Wide Security Group, an authorized Honeywell Dealer, has no plans to slow down any time soon. In fact, the firm’s future growth plans include additional acquisitions in the security field on both a local and national level.
“We are concentrating on specific target areas across the country. Given the trends taking place in our industry along with continued growth coming out of a recession, we feel we are poised to establish a very strong market presence,” Mara says. “World Wide has a very strong financial partner in CapitalSource allowing us to grow despite a tough economy.”
Started in 1979, World Wide Security Group includes five security firms: World Wide Security, GC Alarm, Rainbow Protection, Telestat Security and Dart Security Services. The firm, which operates a UL-Listed central station, offers intrusion detection, fire/life-safety systems and monitoring to more than 18,000 commercial and residential accounts.
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