Mace Completes $3.6M CSSS Acquisition
Mace Security Int’l has acquired wholesale monitoring company Central Station Security Systems Inc. (CSSS) for approximately $3.6 million. The acquisition will be part of a new Mace Security Services division.
The Anaheim, Calif.-based central station, which will operate under the name Mace CSSS, is a national UL-listed central station that monitors about 30,000 end user accounts on behalf of 300 dealer clients.
As part of the agreement, Mace may also make potential additional payments up to $1.4 million upon the settlement of certain contingencies as per the stock purchase agreement and the assumption of approximately $500,000 of liabilities.
Peter P. Giacalone, SSI‘s “Monitoring Matters” columnist, will serve as president of the new division. Giacalone is currently the chairman of the Central Station Alarm Association’s (CSAA) audio verification standards committee and the Security Industry Association’s (SIA) two-way audio verification standards committee.
Mace has also hired Morgan Hertel as the director of operations of Mace CSSS. Hertel has more than 30 years of field and management experience in the security monitoring industry and is an active member of the National Burglar and Fire Alarm Association (NBFAA), SIA and CSAA.
“We are very excited about this acquisition and with the addition of Peter and Morgan to our team,” says Mace CEO and President Dennis Raefield. “CSSS is an established company with excellent customer service and loyal customers, and we are confident that Peter will be able to spearhead more aggressive growth and develop a unique commercial dealer program that will support CSSS’s and Mace’s customers alike.”
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