Introducing the SSI Industry Hall of Fame Class of 2017
Imbued with equal measures of integrity, ambition, innovation, humility and selflessness, another diverse and distinguished group of individuals are presented with one of the industry’s most prestigious honors.
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MITCH REITMAN | FOUNDER AND PRINCIPAL, REITMAN CONSULTING GROUP
Why He’s Being Inducted
- More than two decades setting a professional business standard within the electronic security industry; spreading the word of accounting and accountability
- Very involved in local, state and national security trade associations, serving on boards with ESA, AIREF, Texas Burglar and Fire Alarm Association (among others), and handles financial reporting and taxes for 20+ local associations
- Provides financial consulting, valuation, general accounting services, transactional services, tax compliance, and tax representation services to security companies in 23 states, Mexico, Canada and the EEC
- Firm has participated in more than $750 million of security industry transactions and prepared 100+ alarm company valuations
- Participated in more than $400 million of alarm account transactions as vice president of acquisitions for Select Security and director of acquisitions and business development for Protection One
- Shares best practices with industry at large through speaking engagements and trade publication articles
Bio: Mitch Reitman
- Born in 1958 in Birmingham, Ala.
- Brother to two sisters, father was a physician in the U.S. Navy and later ran a private practice; mother was a homemaker
- Has one son
- Earned BBA at the University of Texas and BS & MS degrees in Accounting at the University of North Texas; passed CPA exam in 1990
- Began accounting career with two large national firms, Coopers and Lybrand (now Price Waterhouse Coopers) and Kenneth Leventhal (now Ernst & Young)
- Other interests include cooking, bicycling and volunteer work
Keys to Success
“My father was a great role model. I have had some great interactions with incredible business leaders, during my time in public accounting and in the security industry and I have learned a lot from them. In public accounting, I was in the Emerging Business Group.
We worked with Compaq Computer, On the Border restaurants and other fast-growing, market-changing businesses. I developed relationships with some incredibly bright entrepreneurs who helped shape who I am today.
I have also developed relationships with many of the sharpest people in our industry that inform how I go about my business in 2017. That includes individuals associated with Protection One, Select Security, and the state and national alarm associations.”
Professional and Personal Inspiration
“What motivates me professionally is being able to offer value to entrepreneurs and visionary business people who need reliable and relevant information to grow their businesses and achieve their goals.
I am also working with state and local security associations to establish scholarship programs for the children of first responders. I believe this is a great way for the industry to improve its relationship with the first responders.
My firm distributes and administers programs for several of these and it is very rewarding. I have been the blood drive chair for my Rotary Club for many years. I believe that assisting our blood banks is an excellent way to help the community.”
Balancing Technology and Business
“The industry is moving more and more from detecting and reporting events to providing information to customers. Internet-enabled cameras and alarm panels can provide users with information about their businesses instead of waiting on an event that may or may not ever come.
Controlling access and environment, and eliminating human error are huge areas for growth in the industry. But the market is getting more competitive and business owners have to understand their financial situation.
Now, more than ever, it is important to be competitive and profitable. Even when it comes time to sell, businesses that are profitable from sources over and above the margins from their RMR will command premium prices.”
Biggest Wish for Industry Change
“Only a small percentage of companies invest time in the trade associations and the resources that they have to offer. Many owners don’t get involved until they are faced with an issue such as verified response.
The associations have a lot to offer and are very dependent on bright owners to volunteer for the betterment of the industry. It would be great if more large, successful firms, and their owners, recognized this and contributed more time and money.”
Getting Into the HOF: Click here to see the criteria for being inducted into the SSI Hall of Fame
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