ASG closes four deals in Q2
BELTSVILLE, Md.—In the past three months, ASG Security closed four acquisitions that bring an additional $114,000 in RMR.
In aggregate, the four deals include 2,600 accounts, ten employees and a new office. The majority of the accounts, 78 percent, that were acquired in the four deals are residential accounts.
The new office is acquired as part of the largest of the four deals, Allied Central Station in the Long Island community of Oceanside, N.Y.
“It was founded in 1963 and it’s a well run family-owned business,” Joe Nuccio, ASG CEO said. Allied previously had a central station, but is now a pure security company.
Former owners Jon Wapner and his two brothers will stay on with ASG. Wapner said he and his brothers were drawn to ASG because the company is at “the forefront of technology … and has substantial resources to market its [products and services].”
Nuccio said that Allied brings with it some “blue chip customers.” The new office and employees will augment ASG’s small existing customer base on Long Island and “allow us to be more effective in servicing our new and existing customers in the area,” Nuccio said.
The second acquisition was a company called Feel Safe Systems Group, a 50 percent residential company based in Owings, Md. Those operations will fold into ASG’s office here. “It’s a good strong regional company that’s been around for about 10 years. The former owner, Roy Young, is joining ASG in a sales role," Ralph Masino, ASG CFO, told Security Systems News.
The other two deals were account acquisitions, one in Texas and the other in Louisiana.
Those deals only account for about a quarter of the total RMR the super-regional added in the second quarter of this year, Masino said.
“Seventy-six percent [of new Q2 RMR] came through organic channels,” Masino said. As of the end of June, ASG had $8.3 million in total RMR; Masino is projecting ASG will have $8.9 million in RMR by end of the year.
Nuccio said ASG is having a record-breaking year in terms of internal growth. He attributes much of that growth to ASG general managers, whom he calls the “best players in the field today.”
The company recently promoted the general manager of its Delaware Valley operation to head up national accounts. “To fill that gap, we have a commercial sales manager from Baltimore who grew up in New Jersey, who we just promoted to VP and GM of the Delaware Valley operation, Patrick McGloin,” Nuccio said.
ASG also has a new VP and GM of its New England office. Tim McCully was recently hired to run that operation, which is headquartered in Wilmington, Mass.