NEW YORK, Sept. 9, 2014 /PRNewswire/ -- ICV Partners (ICV), a leading investment firm focused on lower middle market companies, announced today that its portfolio company SAFE Security acquired Safeguard Security and Communications, Inc. of Scottsdale, AZ. The addition of Safeguard represents approximately $1.5 million of recurring monthly revenue (RMR) and 25,000 customers.
Paul Sargenti, SAFE Security President and CEO, comments, "We are excited to partner with this fine company and intend to maintain the operations that have made Safeguard one of the premier regional security companies in the United States. Safeguard's and SAFE's cultures are an excellent fit and we intend to continue the tradition of excellence that has made Safeguard a success for over 50 years. I think this is a great match and I look forward to partnering with Safeguard and welcome the opportunity to work together."
Cory Mims, a Managing Director of ICV Partners, said, "The SAFE management team led by Paul Sargenti continues to identify high quality acquisition opportunities. Since ICV's initial investment, SAFE has more than tripled RMR through a combination of organic and acquisition growth."
Lloyd Metz, a Managing Director of ICV Partners, said, "ICV has a long history of helping our founder-CEO's execute transformational acquisitions. We are excited to support Paul and his team as they continue to build one of the largest security alarm companies in America."
Founded in 1961, Safeguard focused on carriage trade customers, particularly those who had second homes in the Paradise Valley area outside of Phoenix, AZ. From that focus Safeguard quickly became the first choice security company for gated communities requiring patrol and guard services. With a reputation for quality installations and responsive customer care, Safeguard also added school districts, HOA's and commercial customers to its customer base. Safeguard's reputation for quality security services in the greater Phoenix, Tucson, and Prescott markets for over 50 years has established a trade name to be admired. John Jennings, CEO of Safeguard Security, has grown his business so that it currently ranks 32nd in Security Distribution and Marketing (SDM 2014) Magazine.
About SAFE Security
Founded in 1988, SAFE Security consistently ranks among the top 25 largest security alarm companies in the United States (Security Distributing and Marketing magazine, SDM 100, May 2014), and is one of the few fully national alarm companies with operations in 50 states, Puerto Rico and Canada. The "SAFE Companies" umbrella includes SAFE Security, a full service alarm company, SAFE Monitoring Technologies and California Security Alarms, Inc., a full service alarm company. SAFE's platform includes an experienced management team, wholly-owned central monitoring station, an active Dealer Program, authorized national service provider network and the resource infrastructure to provide business and account management services, all kept current to allow for expansion in all areas. SAFE focuses on excellence in customer service and provides a full range of services for dealers in its SAFE Dealer Network such as monitoring, billing, collections, and marketing, and has maintained a reputation for stability and integrity in the industry.
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.
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SOURCE ICV Partners