Security Central Acquires ‘Friendly Competitor’ for $2M
Security Central picks up 25,000 wholesale monitoring accounts with its purchase of Loss Prevention Services of Clemmons, N.C.
STATESVILLE, N.C. – Wholesale monitoring provider Security Central has completed the acquisition of Clemmons, N.C.-based Loss Prevention Services (LPS), a third-party central station, for approximately $2 million.
Security Central Vice President of Business Development Caroline Brown tells SSI the two companies have been friendly competitors for many years, making it “a natural merger for both companies. LPS has similar core values and family atmosphere.”
LPS is located about 35 miles from Security Central’s main facility in Statesville, N.C. The company maintains about 25,000 accounts, including intrusion, fire and some medical alarms. Security Central, with roughly 320,000 monitored accounts, will be able to offer LPS dealers more services such as video monitoring, mobile PERS (mPERS), answering services and more.
The LPS namesake will be maintained in the short term with an eventual rebranding under Security Central.
“Geographically being in our backyard, so to speak, it’s a great acquisition so we can be hands-on to make sure we maintain the LPS brand and create a smooth transition,” Brown said. “It also will allow LPS to grow in services they provide to their dealers. We are excited to expand their technology and offer business suite services such as billing and collections.”
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Both wholesale monitoring providers use Bold Manitou automation software. Security Central will be adding technology to LPS’s facility to ensure redundancy capabilities, as well as load balance alarm processing. The current LPS staff will continue to work from the Clemmons facility.
“We will have to make some upgrades on the LPS end, since ours is more customized. But the data transition will be fairly seamless once we have a pipeline in place,” Brown said.
Security Central is a division of Statesville, N.C.-based Lake Norman Security Patrol. The company operates in several states and has provided alarm services to residential and commercial markets for more than 50 years.
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