B-Safe Ends 2012 With 5 Acquisitions, Adds $85K in RMR
WILMINGTON, Del. — As part of its growth strategy, B-Safe Inc., a regional provider of security and fire alarms based here, acquired five alarm companies in 2012, expanding its footprint in New Jersey and Pennsylvania.
The purchases include Kwick Alarm Co. of Franklinville, N.J.; Precision Alarm Systems of Mechanicsburg, Pa.; Roseland Security Systems of Belmar, N.J.; Accredited Security Systems of Newtown, Pa.; and B-COM Security of Cherry Hill, N.J. Combined, the deals bring B-Safe $85,000 in recurring monthly revenue (RMR) and 3,500 customers with a 50/50 split of commercial and residential accounts, according to Philip Gardner, the company’s president.
“The acquisitions were spread out over all of 2012,” he tells SSI. “The deals were the consolidation of smaller, boutique companies that became available in our current marketplaces that we felt were a good fit for our current market expansion.”
Established in 1978, B-Safe, a Honeywell First Alert Professional dealer, provides integrated electronic security and life-safety solutions to businesses, government and homes throughout Delaware, New Jersey and Pennsylvania. With the addition of its new customers, the B-Safe team is eager to provide new services, such as its B-Connected remote video monitoring service — a Honeywell Total Connect offering.
“Eighty percent of B-Safe’s new installations include some kind of interactive service, such as cameras, thermostats, lighting or door locks,” Gardner says. “These are going to be immediately available to all new customers.”
To ensure a smooth transition for its new clientele, B-Safe plans to keep as many former owners and employees on staff as possible.
“The employees of former companies almost always understand the systems and needs of the customer base,” Gardner explains. “They will make the transition to our platform much more transparent.”
Now that 2013 is here, Gardner says that his company will continue to look for strategic opportunities to build B-Safe’s brand.
“We’re currently seeking small- to medium-sized traditional alarm companies,” he says. “We’re looking for companies that have close relationships with their customers that provide exceptional customer service.”
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