Absolute Systems Acquires HCTC Security Division
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Absolute Systems LLC of Kansas City, Mo., Houston and San Antonio recently acquired the security division of Hill Country Telephone Cooperative Inc. (“HCTC”) of Ingram, Texas, for an undisclosed amount. Alarm Financial Services (“AFS”) provided financing in the form of a term loan for the transaction. The acquisition develops a partnership between Absolute and HCTC to meet the security needs for HCTC’s commercial and residential customers.
Scotty Rhoads and Absolute have been providing residential and commercial security in Kansas City since 2009, and expanded to Houston and San Antonio in 2017. Absolute also has been providing maintenance and repair service to HCTC’s commercial and residential accounts for the last few years. When the opportunity to acquire the security division of HCTC arose, Absolute was in a position to expand its relationship with HCTC and the customer base it already knew.
“We are excited for the opportunity to expand our coverage into the Hill Country,” said Scotty Rhoads, owner of Absolute Systems. “We are looking forward to bringing our service and expertise to our new customers.”
Scott Link, COO of Hill Country Telephone Cooperative, added, “Scotty and his team will bring the focused approach that is needed to not only maintain security coverage, but expand options for our members as well.”
AFS provides financing from $150,000 to $1,500,000 to small and medium-sized security, fire alarm and Personal Emergency Response System (PERS) companies.
“This is a great opportunity for Absolute to leverage their experience as a provider of subcontracted service and grow its recurring revenue monitoring business,” said Jim Wooster, president of AFS. “This is another example of a growing trend where forward-looking small to medium-sized alarm companies are using their RMR to obtain capital for growth.”
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