Vector Adds 5,000 New Accounts With Hammond Acquisition
PITTSBURGH — Vector Security has completed its purchase of Poughkeepsie, N.Y.-based Hammond Security.
The latest acquisition will allow the company to expand its business into the Hudson Valley, N.Y. area, Vector Security President and CEO Pam Petrow tells SSI. Terms of the deal were not disclosed.
”We thought it would be a good addition to the Vector family,” she says. “We had been speaking with the owner for awhile. They are located in a very good market. They have some very talented people and their customer base is very solid.”
Founded in 1968 by industry veteran Malcolm “Mac” Hammond, Hammond Security is a full-service installing and monitoring provider with roughly 5,000 accounts and nearly 40 employees. The company services 60 percent residential and 40 percent commercial.
Petrow notes that Hammond and Vector share similar management viewpoints and customer bases, which made the transaction easy. She adds that Hammond will keep its company name for at least one year and will be described as a “Vector Security company” in all communications.
Existing Hammond personnel will continue to work for the Poughkeepsie location, Petrow says. Hammond Vice President Kim Sears will be responsible for the branch.
Hammond’s UL-Listed central station services will also remain local, providing high-end alarm monitoring services to the area’s customers.
To read more about Vector’s acquisition strategies, along with insights from three other leading security providers, check out “Savvy Execs Shop Strategic Buys,” featured in SSI‘s February issue.
Ashley Willis is associate editor for SECURITY SALES & INTEGRATION. She can be reached at (310) 533-2419.
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