Bates Security Expands With the Purchase HITEC Security Inc.
Bates Security LLC, a commercial and residential security company based in Kentucky with branches in Prestonsburg, Ky. and Jacksonville, Fla., has acquired HITEC Security from Tommy Kidd, owner of the Pikeville, Ky. Security company. Both Bates Security and HITEC are family-owned and operated businesses based in Kentucky. With the acquisition, Bates will be adding over 600 accounts to its customer base in Prestonsburg, where Bates does business under the ABCO Security name.
“Tommy is a great guy and very enthusiastic about the security industry and he has built up a solid business,” said Jeremy Bates, president of Bates Security. “I have known Tommy for a while now and we are honored that he selected us to be the ones to continue the legacy he has built.”
With the acquisition, Bates will bring on a new employee to the team, and Kidd will be an important part of the transition process and long-term servicing of the company, Bates said.
“When I decided it was time to turn my customers over to someone, I knew that Bates Security was the right company to call,” Kidd said. “I have known of Bates for a long time and trust Jeremy and his people. They are good people and they know what they are doing, so I know my customers will be in good hands.”
Bates Security and its sister company, Sonitrol of Lexington, received a $10M revolving line of credit from Capital One to fund organic expansion and take advantage of acquisition opportunities in both Kentucky and Florida.
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