Hart Alarm in Albany, N.Y. a 47-year-old second-generation company, has sold its alarm business to Doyle Security Systems in Rochester, N.Y. Doyle has been in business since 1919. Doyle Security Systems was 34th on the 2020 SDM 100.
Hart Alarm has been directed by the founder Jim Hart’s siblings, Steve, Susan and Ken. They determined that a capital infusion and more people were needed to grow the company. They decided to sell the company but remain active in it. To do so, they enlisted Davis Mergers and Acquisitions Group (DMAG), a firm working with sellers exclusively in the security industry.
DMAG turned to Doyle Security Systems. The “Graybeards” had previously worked with John Doyle, president of Doyle Security Systems.
“This is truly a great match for us,” Doyle said. “Hart has been run successfully for years. They just needed financial support and the expertise to grow and give its employees more opportunities. We’re pleased that DMAG thought of Doyle Security Systems.”
Doyle Security Systems purchased Hart in late December and is now working with Hart’s employees to integrate all its operational systems.
Steve Hart, president of Hart Alarm, added, “The Doyle Security Systems group is just what we needed. Now all our employees will have the opportunity to grow within a larger, very well-run organization. The timing for our family was right.”