Alarm Security Group LLC (ASG), an electronic security and monitoring company, announces its completion of a recapitalization transaction with Parthenon Capital, a private equity firm based in Boston and San Francisco.
The transaction received regulatory approval and was completed onOctober 26.
Proceeds from the transaction were used to repurchase shares held by Waud Capital and Northwest Capital Appreciation and to provide capital for future expansion.
ASG’s existing management team, led by CEO Joe Nuccio, will continue to lead the company.
“Our goal in the next five years is to continue providing the highest level of service to our commercial and residential customers while expanding our capabilities into contiguous markets and new product areas,” says Nuccio. “The investment being made by Parthenon Capital is a great opportunity for the continued growth of ASG in the markets we serve today and will facilitate our expansion into new operating regions.”
David Ament, a partner at Parthenon Capital, says the electronic security market has many attractive fundamentals, but companies by necessity need to have operational expertise and execution discipline to be successful.
“We are very impressed with ASG’s operating model and the team’s deep expertise in the market,” Ament says. “We’re excited to be part of the company’s growth going forward.”
