ICV Partners' SAFE Security Acquires Monitoring Accounts From Pinnacle Security
NEW YORK, Feb. 7, 2013 /PRNewswire/ -- ICV Partners (ICV), a leading investment firm focused on lower middle market companies, announced today that its portfolio company SAFE Security has acquired approximately 24,000 security alarm monitoring subscriber accounts from Utah-based Pinnacle Security. The newly acquired accounts represent $1.1 million of Recurring Monthly Revenue.
"This is an exciting and important addition to SAFE's portfolio," said Paul Sargenti, SAFE's President and CEO who founded the company in 1988. "The transaction fits very nicely into our national footprint. The acquisition, in conjunction with SAFE's robust dealer program, provides cash flow to optimize and execute SAFE's growth strategy."
Cory D. Mims, a Managing Director of ICV, said, "We have been working closely with SAFE Security's founder and CEO Paul Sargenti and his management team to build on the company's historically strong record of performance. A part of that includes supporting SAFE Security with the capital necessary to back management's vision for growth. These new accounts add significant revenue to the company and we continue to review high quality acquisition targets." ICV acquired SAFE Security in 2012.
About SAFE Security
SAFE Security® ranks among the largest security alarm companies in the United States, with operations in 44 states. SAFE Security (Security Alarm Financing Enterprise, L.P.), headquartered in San Ramon, CA is one of the nation's leading security alarm companies engaged in the business of purchasing, financing and servicing residential and commercial security alarm monitoring contracts. SAFE Security actively markets and installs alarm systems and monitoring to homeowners across the nation in addition to growing a robust dealer account acquisition program. For more information, visit the company's website at www.safesecurity.com.
About ICV Partners
Founded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong companies at the lower end of the middle market. The principals of ICV have crafted a strong track record of helping companies improve performance over the long term and across a variety of industries. ICV seeks to make control investments in market leading businesses with $25 million to $250 million in revenue. Additional information is available at www.icvpartners.com.
Contact: Chris Tofalli
Chris Tofalli Public Relations, LLC
SOURCE ICV Partners