East Coast security provider Matrix Security Systems and North Carolina-based SafeGuard Security announced the completion of their recent consolidation. Under the transaction, the owners of Matrix Security Systems, LLC traded their LLC membership interests for stock in Lotus Security Services Inc., d/b/a SafeGuard Security.

Although the company will conduct business as Matrix Security Systems, the SafeGuard Security name will continue to be used in the Carolinas. Matrix will maintain its existing offices in Wilmington, Del.; Charlotte, N.C.; Greensboro, N.C.; Suffolk, Va.; Somerset, N.J.; Mantua, N.J.; and Lancaster, Pa.