Ingersoll-Rand Acquires Security One Systems
Ingersoll-Rand Co. Ltd. (IR) has upped its portfolio of integrators by acquiring Fort Lauderdale, Fla.’s Security One Systems. Founded in 1990, Security One touts itself as the largest private integrator of commercial systems in the Southeast U.S. Terms of the purchase were not disclosed.
Security One provides security solutions that include access control, CCTV and alarm monitoring. IR says that while Security One will be folded into its Security Technologies division, it will keep much of its current staff.
“The acquisition of Security One expands our solutions footprint in the Southeast and continues IR’s strategy to pursue recurring revenues through services-related business,” said IR Chairman, President and CEO Herbert Henkel in a statement.
John Mack, CEO of USBX Advisory Services, helped broker the deal and says the sale is a win-win for both companies.
“IR had reasonably good coverage in some parts of the country, but no significant presence in the Southeast so this was a great geographic fit for them,” says Mack, who adds Security One started searching for “strategic alternatives” last Fall. “There are not too many good, well-run systems integrators above $20 million in size. Security One is well above $20 million.”
According to Mack, current Security One customers shouldn’t expect that much change from what they’re used to now. “Their intention is to keep the Security One team in place as the foundation of their integration services in the Southeast,” Mack says. “Fundamentally, the same people will be going out to provide service. It will be pretty seamless for Security One customers.”
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