A trust whose main business has been the rental of water heaters has purchased Canadian alarm monitoring firm Protectron Holdings Inc.
Protectron, based in Montreal, is the largest privately held alarm monitoring and installation company in Canada with more than 176,000 residential, commercial and other accounts. UE Waterheater Income Fund paid $135 million Canadian, or approximately $111 million in U.S. currency, to purchase Protectron through its Union Energy LP subsidiary.
“It is a solid, stable business with growth opportunities in both residential and commercial sectors, an experienced management team and a strong focus on customer service supported by an internal sales and service team,” Protection President and CEO Demers said of UE.
