ASG Security Closes Financing Deal; Makes Acquisition
BELTSVILLE, Md. — On the heels of its recent recapitalization, Alarm Security Group LLC (ASG), has acquired Turnersville, N.J.-based Matrix Security Group Inc., a commercial and residential security systems provider. Terms of the deal were not disclosed.
Matrix Security Group has more 33,000 customers and about $1 million in recurring monthly revenue (RMR) in the Mid-Atlantic states. The deal increases ASG’s RMR to $3.8 million and its client base to around 108,000, says ASG CEO Joe Nuccio. In late October, ASG completed a new financial partnership with private equity firm Parthenon Capital. Proceeds from the transaction were used to repurchase shares held by Waud Capital and Northwest Capital Appreciation and to provide capital for future expansion.
“Our goal in the next five years is to continue providing the highest level of service to our commercial and residential customers while expanding our capabilities into contiguous markets and new product areas,” Nuccio says.
“We look forward to working with [Matrix’s] very talented employee base and the dynamic culture the combined companies will create.”
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