Trans-American Security Service Inc. and Arctic Capital and
its co-investors have agreed to partner. Arctic Capital,
who has agreed to purchase a majority stake, will provide
growth capital to the firm.
“We are delighted to partner with Arctic to expand our
systems and service offering to current and prospective
customers. We look forward to serving our current customers
over a wider geographic footprint in the coming years. In
addition, Employee Stock Ownership/Option Plan (ESOP)
participating employees will be receiving a contribution to
their retirement account that will be quite exciting,” says
Terry Mullett, president and CEO of Trans-American.
Under the pending agreement, Mullett is to become a
shareholder and Rick Smith, one of Trans-American’s
founders, will retire from the firm. Dave Smith will
continue with the company as Vice President of Corporate
Developement and an investor. Other executives and
members of Trans-American’s present management team are to
remain in place.
Trans-American, headquartered in Burnsville, operates a UL-Listed central station. Arctic Capital’s investment will enable the firm to enhance its service capabilities and expand the firm’s geographic footprint to include all of Minnesota and the upper Midwest.
