Devcon Security Services Corp. (DSS), a wholly owned subsidiary of Devcon Int’l Corp., has completed its acquisition of the electronic security services division of Adelphia Communications Corp. Stephen Ruzika, president of DSS, which announced the deal in January, says the acquisition will serve as a platform for the company to deliver more customer- focused security services to both large and small businesses, as well as the residential market.
DSS acquired the assets for $40.2 million, based strongly on the company’s estimated contractually recurring monthly revenue (RMR) of approximately $1.15 million. With the acquisition, DSS took on assets that included Adelphia’s full-service monitoring center in Naples, Fla., which monitors more than 57,000 subscribers, homes and businesses.
Devcon Int’l Corp. operates three separate divisions, which include its Security Services Division, Construction Division and Materials Division.
