SAFE Security Acquired by Investment Firm
NEW YORK — ICV Partners (ICV), an investment firm focused on lower middle market companies, has acquired San Ramon, Calif.-based SAFE Security for an undisclosed amount.
“The security alarm industry has 20 years of stable growth and our exciting new partnership with ICV will help accelerate our growth initiatives in existing and new markets,” SAFE Security CEO Paul Sargenti says. “ICV has a long history of successfully partnering with founder-owned companies and we look forward to working with them.”
Founded in 1988, SAFE Security provides monitoring services, installation, maintenance and other related services to homeowners and businesses nationwide. The company purchases, finances and serves residential and commercial security alarm monitoring contracts, in addition to installing alarm systems. In April, the firm launched the SAFE Dealer Network to help independent dealers strengthen their businesses.
SAFE Security’s ability to grow its customer base despite economic turmoil appealed most to ICV Partners, according to Cory Mims, managing director for ICV.
“The security alarm industry is highly fragmented and stable; it has demonstrated resilience through the last recessionary period,” he says. “We are confident that with a stable source of capital and additional expertise from ICV we can work with Paul and his strong management team to further grow the company.”
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!
Recommended For You
Cloud security can present a paradox: companies love the flexibility and versatility of cloud security management, but are unsure if the cloud itself is secure enough to house their vitally important systems.
From processing power to lens selection to proper positioning, here are 13 tips to help shed light on proper installation of cameras in low-light conditions.