SAFE Security acquired by ICV Partners With Plans for Growth
ICV Partners (ICV), New York, an investment firm focused on lower middle market companies, announced the acquisition of SAFE Security Inc., San Ramon, Calif., a provider of residential and commercial security alarm systems, monitoring services, and support services.
Cory Mims , a managing director of ICV, said, “Paul Sargenti has built SAFE into a strong company that today provides a valuable and compelling service to a broad and growing customer base. The security alarm industry is highly fragmented and stable and has demonstrated resilience through the last recessionary period. We are confident that with a stable source of capital and additional expertise from ICV we can work with Paul and his strong management team to further grow the company."
Sargenti, said, "The security alarm industry has 20 years of stable growth and our exciting new partnership with ICV will help accelerate our growth initiatives in existing and new markets. ICV has a long history of successfully partnering with founder-owned companies and we look forward to working with them."
SAFE was founded in 1988 by president and CEO PaulSargenti and today provides monitoring services, installation, maintenance and other related services to homeowners and businesses across the nation. SAFE sources new accounts primarily by purchasing existing security alarm contracts from other security alarm companies and develops new accounts from a broad network of dealers nationwide.
Founded in 1998, ICV Partners is a private investment firm that supports management leaders of strong companies at the lower end of the middle market. ICV seeks to make control investments in market leading businesses with $25 million to $250 million in revenue, the company stated.