IASG Selling Off Portions of Its Business
ALBANY, N.Y. – Integrated Alarm Services Group Inc. (IASG) is selling some of its assets to Mountain Acquisition Co. LLC for the sum of $7.3 million. The purchase price for assets consisting of alarm contracts totaled $7.1 million. This represents a recurring monthly revenue (RMR) purchase multiple of 34.7.
The purchase agreement calls for Mountain Acquisition to pay cash plus a $6.5 million promissory note, due Dec. 31, along with 12-percent interest on principle.
Integrated Alarm is selling specific alarm contracts in Colorado, Idaho and Utah with recurring monthly revenue of $212,200 and other assets totaling $224,000, which includes inventory, vehicles and monetary deposits. The assets were to be sold because they are in service areas that do not fit with the firm’s desired profile.
Security Is Our Business, Too
For professionals who recommend, buy and install all types of electronic security equipment, a free subscription to Security Sales & Integration is like having a consultant on call. You’ll find an ideal balance of technology and business coverage, with installation tips and techniques for products and updates on how to add sales to your bottom line.
A free subscription to the #1 resource for the residential and commercial security industry will prove to be invaluable. Subscribe today!