Central Electronic Security, a rapidly growing alarm company headed by David Balestrery, increased its size with the acquisition of ABC Security, according to a press release issued yesterday by GrayBeardsRus.
David Balestrery is a relative newcomer to the industry, having been on the financial side of the business, providing capital to alarm companies. He aquired CES in 2004.
CES has made several acquisitions in the Chicago area, culminating in this announcement of the acquisition of ABC. Jerry Robinson, former president of ABC, is known as one of the industry’s most knowledgeable and informed executives, and his company has long been in the forefront of marketing alarm and integrated systems in the Chicago market. Robinson will become the chief operating officer of CES, and will be a significant stockholder in the company.
The transaction was put together by Ron Davis, managing partner of Davis Marketing Group, also known as The Graybeards. This was the third transaction Davis has put together with CES in the last year. The other two have been the acquisition of LV Systems and Metronet.
Regarding the ABC acquisition, Robinson said, “We’ve taken ABC into a new horizon in the electronic security industry, and have brought it as far as we can go without raising significant amounts of additional capital. By joining forces with CES, we’ve accomplished all of our goals and look forward to a continuation of the company’s growth in the Chicago area."
"Balestrery commented, “We have become a major presence in the Chicago market and are building a solid platform of alarm and security integration. We fully intend to pursue other opportunities.”
There were no details released on this transaction and the purchase price was undisclosed.