Kastle Systems Acquires Mutual Central and Stat-Land from ADT
Kastle Systems International, Falls Church, Va., a provider of managed security solutions, announced it acquired Mutual Central Alarm Services and Stat-Land Security Systems from The ADT Corporation. The acquisition adds nearly 4,000 customer sites in New York for Kastle.
Kastle stated that Mutual and Stat-Land’s financial service clients, upscale jewelers, and marquee retail brands will benefit from Kastle’s broader suite of products and services, including advanced monitored video solutions, and also greater geographic coverage to support their security needs nationwide.
Building on its existing IP-centric infrastructure, the acquisition expands Kastle’s presence and expert resources in the greater New York metropolitan area, by adding a UL listed, CSAA Five Diamond-certified central station in Midtown Manhattan and a deeply-experienced team with a 40-year successful operating history as one of a select few specialists in protecting high-end customers.
“We are thrilled to bring Mutual and Stat-Land into the Kastle family and to significantly grow our business in New York City, which is a top priority market for us. Our customer bases, product offerings and geographic coverage are extremely complementary which will provide significant growth opportunities going forward,” said Mark Ein, chairman, Kastle Systems. “Above all, this is a great fit — as Kastle and Mutual and Stat-Land share a culture, passion and reputation for providing the highest levels of service for clients with sophisticated security needs.”
The debt financing for the acquisition was provided by Kastle’s existing lenders, CapitalSource Bank and Capital One, N.A. As a privately held entity, specific financial terms of the acquisition are undisclosed.
“This is a great opportunity for our business, our employees and for our clients,” said Joel Cohen, president, Mutual. “By joining Kastle, we are part of an organization with a long-term perspective that will enable us to offer the same premium customer experience, and also introduce new innovative offerings that I know our clients will want.”