Comstar Inc., formerly headed up by industry veteran Jim
Greco and his son, Tim, have sold the assets of the
corporation to Alarm Detection Systems Inc. (ADS) of
Aurora, Ill. The size of the transaction has been kept
confidential, but the sale was for well in excess of 2,000
accounts and represents one of the largest purchases made
by ADS. A sister company to Comstar, Star Security,
primarily a union installation contractor, will remain in
business, and is headed up by Tim Greco.
“Although the multiple we were paid was in excess of
what I had hoped for, the real reason we made the decision
to go to ADS was because of the obvious care and quality
that I knew they would take with our customers,” said Jim
Greco in a statement. “The way they handled the transaction
and their follow-up has been nothing less than first
class!” Terry Olah, CFO of ADS, said, “When the cash flow
of an acquisition is as accretive as Comstar, it represents
a wonderful opportunity, one that we could not pass up.”
Davis Marketing Group represented Comstar in the
transaction.
