Iverify, a provider of real-time remote security monitoring services, and Trans Alarm Security Services, a provider of life safety and property protection solutions, announced a merger resulting in one of the most comprehensive security product and service suites in the industry. Additionally, Securitas, announced it has made a minority investment in Iverify, which will result in an ownership position in the combined operations of Iverify and Trans Alarm.
Sean Forrest, current chief executive officer (CEO) of Iverify, will remain chief executive of the combined firm, and Steve Champeau, CEO of the former Trans Alarm, will be president of the new organization.
The headquarters of the organization will be located in Charlotte N.C., which will operate under the corporate name, Iverify. Its facility in Burnsville, MN will remain fully operational, and the two monitoring centers of the combined operations will serve as fully capable, redundant back-up sites for one another.
In commenting on the announcement, Forrest said, “Leveraging our combined commitment to quality and customer-focused services, the new organization will deliver an exhaustive suite of security solutions ranging from traditional alarm services to state-of-the-art, high-touch remote security monitoring. This merger with Trans Alarm also provides a sharper competitive edge and significant growth opportunities, enabling us to considerably expand our target market to bring our valuable loss prevention services and customized security solutions to a much broader range of customers.”
“The whole point is simply better service. With the merger of Iverify and Trans Alarm, our customers get more security solutions when and where they need them,” commented Champeau. “From basic intrusion detection to fully interactive video/audio monitoring tailored to individual locations throughout a nationwide chain, our people are positioned to deliver the best solution for our customer’s needs.”
The co-investor with Securitas for this transaction is Driehaus Private Equity. The PrivateBank provided Iverify with debt financing. Raymond James & Associates Inc. served as advisor to the seller.
“We’re very pleased to collaborate with Securitas, a recognized global leader in security, and this tenured management team, in this transaction,” said Eli Boufis, managing director of Driehaus Private Equity. “We all agree that there is tremendous potential for the newly combined firm and we look forward to assisting this proven team drive growth by delivering meaningful value to customers.”