Safeguard Security Sells Alarm Division to SAFE
SDM received word that Safeguard Security, Scottsdale, Ariz., sold its alarm division to SAFE Security, San Ramon, Calif., for an undisclosed amount. Mitchell Silberberg & Knupp LLP (MSK) represented the seller in the transaction. The deal closed on August 19, 2014. SAFE Security acquired Safeguard Security and Communications, Inc. representing approximately $1.5 MM of RMR and 25,000 customers
Safeguard, ranked No. 32 on the 2014 SDM 100, is reported to be Arizona’s largest family-owned and locally-operated security provider, reporting $1.38 million in RMR last year and $32.2 million in revenue. It has been protecting local families and businesses for more than 50 years. Headquartered in Scottsdale, Ariz., with an office in Prescott, Ariz., Safeguard offers security and fire alarm, video surveillance, access control, energy management, audio/video and other low-voltage services. There is no official word yet on whether there will be any changes to the current staff of more than 380+ employees, however one source, who wished to remain anonymous, stated, that offices will remain open. “We are excited for the companies to come together,” said Safeguard Security CEO John Jennings, who added offices will remain open. “I’m confident that together SAFE and Safeguard will continue to serve the Arizona market with distinction and quality.”
Paul Sargenti, SAFE Security President and CEO, commented: “We are excited to partner with this fine company and intend to maintain the operations that have made Safeguard one of the premier regional security companies in the United States. Safeguard’s and SAFE’s cultures are an excellent fit and we intend to continue the tradition of excellence that has made Safeguard a success for over 50 years. I think this is a great match and I look forward to partnering with Safeguard and welcome the opportunity to work together.”
Acquisition documentation was provided by Greenan, Peffer, Sallander & Lally on behalf of buyer. Documentation review was provided by MS&K on behalf of seller. Investment banking services were provided by SPP advisors.