Bates Security Acquires ABCO Security
Bates Security LLC, a commercial and residential security company based in Kentucky with a branch in Florida, acquired ABCO Security from Robert Welch of Prestonsburg.
Both companies are family owned and operated businesses and Honeywell Authorized Dealer companies. With the acquisition, Bates, ranked No. 59 on the SDM 100, will be adding more than 1,650 customers to its customer base.
“ABCO Security and the Welch family have a great reputation and customer base that will bring a lot of excitement and continued success to the Bates Security family,” said Jeremy Bates, president of Bates Security. “I have known Robert and his company for many years now and have always admired what he and his team have been able to build. I am very excited they are now part of our team.”
Bates Security is keeping all 11 ABCO Security office and technical employees and welcomes them into the Bates family. Tim Welch, Robert Welch’s son, will be the general manager of the Eastern Kentucky office.
“I’m happy Bates Security will now be managing the operations,” said Robert Welch, ABCO Security founder. “Their brand travels far and wide and I have no doubt they will take ABCO to places I never imagined. We have been fortunate in our success and I look forward to what Bates can bring to the table. I have no doubt our customers are in good hands.”
Bates Security recently received a $10 million credit facility from Capital One to help fund organic expansion and take advantage of acquisition opportunities as they present themselves.