ASG Security Acquires Matrix Security Group
BELTSVILLE, Md.
Alarm Security Group LLC (ASG), an electronic security and monitoring company, announces it acquisition of Turnersville, N.J.-based Matrix Security Group Inc., a
commercial and residential security systems provider. Terms of the deal were not disclosed.
Matrix Security Group has more 33,000 customers and about $1 million in recurring monthly revenue (RMR) in the Mid-Atlantic states, according to the company.
Matrix Security Group will strengthen ASG’s existing operations and provide an immediate entry into New Jersey and the Carolinas, says ASG CEO Joe Nuccio.
“Matrix’s customer base will add significant market density and synergy to ASG’s existing branch operations while providing ASG a robust platform to expand into contiguous markets,” Nuccio says. “It has been our goal to find the right platform for continued regional expansion.”
Barnes Associates assisted ASG in the transaction. Parthenon Capital, ASG’s financial partner, provided financing for the transaction.
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