The CEO of Honeywell Security Monitoring (HSM) has revealed
a business plan he says is aimed at taking the alarm
monitoring and installation business to the top of the
industry within the next three years. James Covert spoke at
the Barnes, Buchanan and Mallon Conference on Feb. 17 in
Palm Beach, Fla., and said it is his company’s goal to be
the No. 1 commercial installation company by 2008.
Chicago-based investment firm GTCR Golder Rauner LLC
purchased the business for $315.5 million from Honeywell HREF=t_ci_newsView.cfm?nid=1611>on May 3. Covert says
the separation from Honeywell will be complete on March 31,
with HSM having to move 31 of 45 branches.
The company has revealed a new logo featuring the “HSM”
acronym prominently and eventually will abandon the
Honeywell name completely and known only as HSM.
Covert also announced HSM is using Jupiter, Fla., as its
corporate headquarters and will base operations in Chicago.
It will maintain central stations in Minneapolis and Santa
Ana, Calif.
