ATLANTA — Source Capital announced earlier this month the acquisition of PTI Security Systems, a provider of access control and security solutions to the self-storage industry. Terms of the transaction were not disclosed.
PTI founder Lance Comstock will assume the chairman position and continue to provide strategic guidance to the company. Franklin Young will join Source Capital as CEO and Jeff Flowers as COO.
“We are proud to partner with Source Capital as a part of this transaction,” said Lance Comstock, PTI founder. “The resources and strategic guidance provided by Source Capital will allow PTI to accelerate our current growth trajectory and capitalize on new opportunities.”
“PTI has established itself as the clear market leader in the self-storage industry by providing innovative and high quality solutions to its customers,” added Ben Emmons, managing director at Source Capital. “We look forward to working closely with PTI, Franklin, Jeff and Lance to continue growing the company and expanding its suite of products.”
PTI has more than 25,000 customers across more than 30 different countries. It has two locations in the United States and international distributors in Europe, Australia and Asia.
