ABM finalizes acquisition of Sentinel Guard Systems
SAN FRANCISCO - ABM Industries Inc. Ã‚Â said it has finalized its acquisition of Sentinel Guard Systems from Tracerton Enterprises for $3.4 million in common stock.
Announced in October, ABM looks to capitalize on the business earnings of the provider of security officer services to high-rise, commercial and residential buildings. Sentinel reported more than $13 million in annual revenues, according to ABM.
Tracerton was based in Los Angeles with an office in San Francisco, and Sentinel was its primary source of activity. As a result of the deal, Glenn Gilmore joined ABM as regional vice president. Gilmore is the son of Timothy Gilmore, founder and sole shareholder of Tracerton.
Diversified reports record breaking revenues
SADDLE BROOK, N.J. - Diversified Security Solutions saw its sales for the quarter grow significantly and set a new revenue record.
The company, which installs security systems under the Henry Bros. name, saw sales increase 52.8 percent for the three month period that ended Sept. 30., when compared with the same period last year. That translates into $7.7 million in sales for the company.
Jim Henry, chief executive officer of Diversified Security, attributed the increase in part to its acquisition of Airorlite, a wireless communications company that it bought in April 2004.
Henry said the companyÃ¢â‚¬â„¢s consolidated backlog for the quarter reached $19.5 million.
NSI gains Premises Control as its latest member
WALLED LAKE, Mich. - Premises Control is the lastest systems integrator to join National Security Integrators, a network of security companies across North America who have come together to offer national scale service to its customers.
As part of NSI, Premises Control will provide coverage in Michigan and Ohio. The company is one of about a dozen members of the one-year old network.