Securadyne Makes 2nd Acquisition Within 7 Months
DALLAS — Seven months after its launch, systems integration firm Securadyne Systems has now moved into the Northeast marketplace through its acquisition of New England-based Surveillance Specialties (SURV). Terms of the deal were not released.
“Our strategy is so that if we acquire, we would only acquire the best-in-breed platform-type companies,” Securadyne President and CEO Carey Boethel tells SSI. “In our opinion, SURV is the top systems integrator in the New England region — nobody else comes close. So this deal made a lot of sense for us.”
While SURV’s technical prowess and strong focus on customer service drew Securadyne and its financial partner Pamlico Capital to the firm, it was actually SURV’s expertise in the health-care and biopharmaceutical markets that helped seal the deal.
“Biopharma is a new vertical for us, but it’s one that we’re very interested in for a variety of reasons,” Boethel says. “The regulatory requirements, such as the Health Insurance Portability and Accountability Act [HIPAA], drive security expenditures in that vertical. SURV has a really deep knowledge of security requirements in that vertical, so their level of subject matter expertise is really top-notch.”
Boethel, a former Siemens employee, and his partner Ken Francis, previously from UTC Security Products Group, began Securadyne in February with the purchase of security systems integrator SecureNet. At that time, the firm offered integrated access control, intrusion, video surveillance and security voice solutions. With the SURV acquisition, Securadyne will now offer fire/life-safety solutions to its clientele. The business also focuses heavily on cloud computing to set itself apart from the competition, Boethel says.
“Everything that we do as a conventional systems integrator on the sites where we work, we are also able to do via the cloud,” he explains. “There are a lot of companies in our space that are thinking about the extent to which they want to embrace the cloud. For us, it’s part of our brand identity, and it’s core to our growth strategy.”
In 1986, Arthur and Joan Borque started SURV as a covert surveillance company until changing its business model to a full service systems integrator in 1999. Securadyne will retain SURV’s offices in Wilmington, Mass., and Portland, Maine. SURV’s 75 employees will continue on with the Securadyne team. Arthur Borque will join the company’s board of directors and SURV COO Justin Davis will be responsible for leading Securadyne’s Northeast region. Additionally, Boethel hopes to hire installing technicians, field engineers and salespeople in the near future.
Boethel declined to comment on how many accounts and recurring monthly revenue (RMR) the deal brings to Securadyne. However, he stated that the firm acquired brand names from multinational, global organizations as customers. Boethel added that while Securadyne plans to expand its footprint geographically in the Eastern United States, the company’s goal is to build its growth in terms of the level of integration it provides.
“The deeper that we can go into an organization, the better,” he says. “Our aim is to help our clients develop real business solutions. While we’re always interested in acquiring new business, we really want to create more value for our existing customers.”
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION magazine. She can be reached at (310) 533-2419.
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