Integrated Alarm Services Selling off Portions of Business
ALBANY, N.Y.
Integrated Alarm Services Group Inc. (IASG) is selling some of its assets to Mountain Acquisition Co. LLC for the sum of $7.3 million. IASG monitors residential and commercial alarm systems. The purchase price for assets consisting of alarm contracts totaled $7.1 million. This represents a recurring monthly revenue (RMR) purchase multiple of 34.7. The purchase agreement calls for Mountain Acquisition to pay cash plus a $6.5 million promissory note, due Dec. 31, along with 12-percent interest on principle.
Integrated Alarm is selling specific alarm contracts in Colorado, Idaho and Utah with recurring monthly revenue of $212,200 and other assets totaling $224,000, which includes inventory, vehicles and monetary deposits.
Charles May, CEO of IASG, commented that the assets were to be sold because they are in service areas that do not fit with the firm’s desired profile. IASG expects to sell additional portions of its retail division in the future.
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