Security 101 Acquired by Investment Group Gemspring Capital
Security 101’s management team, led by CEO Steve Crespo, will continue to lead the business and be significant shareholders in the company.
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WEST PALM BEACH, Fla. — A majority interest in Security 101, an electronic systems integration company, has been acquired by an affiliate of Gemspring Capital Management for undisclosed terms.
Based in Westport, Conn., Gemspring Capital is a middle market private equity firm with $1.5 billion of capital under management focused on companies in the business services, industrial services, distribution and logistics, healthcare services, financial & insurance services, specialty manufacturing, media and software industries.
Security 101 is a provider of commercial security system solutions and differentiates itself from its competitors through a franchising business model. The company has more than 50 locations in the continental U.S. and is now poised to develop a local presence within markets where growth potential exists, according to an announcement.
Security 101’s management team, led by founder and CEO Steve Crespo, will continue to lead the business and be significant shareholders in the company.
“We are excited to partner with Gemspring during this next phase of growth and look forward to collaboratively pursuing the tremendous market opportunity ahead of us,” says Crespo. “This partnership puts Security 101 in a position to rapidly expand our footprint while continuing to provide national and local customers the security industry’s finest customer service through our proven approach.”
Michael Walton, president at Security 101, adds, “Today’s client demands an attention to detail that includes an extensive knowledge of the product and a personalized approach to sales and service — each of which Security 101 has developed a positive reputation for providing on a consistent basis. You can only achieve this with the highest quality teams and our success has always been directly connected to our company culture and the people who have created it.”
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