Carrollton, Texas-based Securadyne Systems has completed its acquisition of North Carolina-based Intelligent Access Systems (IAS) — its fourth acquisition since it was founded in February 2012. The company previously acquired Wilmington, Mass.-based Surveillance Specialties, Dallas-based SecureNet, and Florida-based Advanced Control Concepts. Securadyne Systems is ranked No. 18 and Intelligent Access Systems is ranked No. 35 on SDM’s Top Systems Integrators Report.
Founded in 2004 by security industry veteran Ron Oetjen, IAS operates in eight cities, including Raleigh, N.C.; Richmond, Va.; Pittsburgh; Canton, Ohio; Atlanta; and three Florida locations: Tampa, Jacksonville and Ft. Lauderdale. Oetjen will remain and join Securadyne’s leadership team.
“We are extremely proud to be affiliated with Intelligent Access Systems,” said Carey Boethel, Securadyne’s president and CEO. “Ron and his team have built a truly remarkable organization that consistently puts the customer first and focuses heavily on its core values of excellence, innovation, partnership and trust. Virtually everything about our two companies is synergistic, especially the cultures, which for us is by far the most important facet of the deal.”
Oetjen, who will join Securadyne’s management team, said the complementary nature of the companies’ strategies played a key role in the acquisition. “We are obviously excited about the growth potential that comes with this combination. Securadyne’s strategy is complementary to our own and focuses on next generation enterprise-class solutions, including cloud architectures, which we feel positions us extremely well for long-term success,” he said. “Additionally, Securadyne’s branch network will allow us to service our existing customers on a broader basis in markets where we do not currently have a presence.”
With this latest acquisition, Securadyne now has 300 employees in 16 locations with annual revenues of $79 million. The company also plans to enter at least two more markets this year. In 2013, the company experienced year-over-year growth of`106 percent.
Following the Surveillance Specialties acquisition, Boethel told SDM Securadyne would continue to look at potential acquisition targets, but only those that met specific criteria.
“What’s most important to us is a leadership team with a track record of success and investing back in the business,” he said. “Of course there are other criteria as well, like profitability and market position, but these are secondary to leadership’s track record. The kind of sustainable success we look for typically comes from longstanding customer relationships where the target company has achieved ‘trusted advisor’ status with their top customers. Lastly, we look for a company culture that embraces change and progressive thinking. A group of smart people who have a track record of success and reinventing themselves is likely to be a terrific fit with Securadyne.”