Stanley Security Acquires SentryNet
Stanley Security Solutions, a global provider of electronic security services and products, has acquired SentryNet, a wholesale monitoring company, which will continue to operate under its own name.
The acquisition allowed Stanley to expand its independent dealer network, offering dealers opportunities and access to Stanley’s resources leveraging buying power, marketing programs and materials they couldn’t get before. “Dealers can now go to one place for marketing materials which they can brand with their own images and logos,” said Julie Beach, vice president of sales and marketing for software and controls, Stanley Security.
Beach said Stanley produces their own products, and they now have access to more dealers who can distribute Stanley’s products.
Stanley representatives did not disclose financial details of the deal, which finalized August 3, 2015. In the deal, Stanley acquired SentryNet’s Memphis, Tenn., central station and its Pensacola, Fla., central station along with alarm monitoring services for 650 independent dealers located primarily in the southeast U.S.
“All SentryNet management will be staying in place,” said Beach. “SentryNet's owner David Avritt is still involved in the business and has no immediate plans of transitioning out. We are keeping both monitoring centers open and have retained all SentryNet employees and have added several Stanley employees to that number — including me.” Beach said those in marketing now report to her while most employees continue to report to their own supervisors. “In fact,” she said, “We are looking to hire and expand.”
In early 2015, SentryNet had been meeting with an advisor at Pro Finance because Avritt was interested in expanding SentryNet’s dealer program. Through the process, their contact at Pro Finance introduced Avritt to Stanley. “He thought it would be a good fit,” said Beach, “and it became a perfect fit for both of us.”
Beach said Stanley is not actively seeking more acquisitions at this time. “We are in organic growth mode; however, if opportunities arise, we will evaluate them.”
Most end users should see no difference in services. “SentryNet already does an excellent job of monitoring, and we want to keep that up.” The real benefit will be to the expanded resources available to independent dealers.