LEXINGTON, Ky. — Bates Security, a commercial and residential security company based here, has acquired ABCO Security Systems of Prestonsburg, Ky., for undisclosed terms.
The transaction marks Bates Security’s expansion into Eastern Kentucky. The security provider also operates a branch in Jacksonville, Fla.
Founded in 1981 by Robert Welch, ABCO is a full-service security integrator with clients throughout the Tri-State area. With the acquisition, Bates will be adding more than 1,650 accounts to its customer base.
Bates Security and ABCO are a perfect match as both are family owned and operated businesses and leading Honeywell Authorized Dealer companies, according to an announcement.
“ABCO Security and the Welch family have a great reputation and customer base that will bring a lot of excitement and continued success to the Bates Security family,” says Jeremy Bates, president of Bates Security. “I have known Robert and his company for many years now and have always admired what he and his team have been able to build. I am very excited they are now part of our team.”
Bates Security is keeping all 11 ABCO security office and technical employees. Tim Welch, Robert Welch’s son, will be the general manager of the Eastern Kentucky office.
“I’m happy Bates Security will now be managing the operations,” says Robert Welch. “Their brand travels far and wide and I have no doubt they will take ABCO to places I never imagined. We have been fortunate in our success and I look forward to what Bates can bring to the table. I have no doubt our customers are in good hands.”
Bates Security recently received a $10 million credit facility from Capital One to help fund organic expansion and take advantage of acquisition opportunities as they present themselves.
