Doyle Security acquires Lock-Tight
ROCHESTER, N.Y.—Doyle Security Systems Inc., a regional provider of residential and commercial security, fire and medical monitoring systems based here, has acquired the accounts of Lock-Tight Alarm, Inc., a privately held residentially focused company founded in Hilton, N.Y. in 2002.
President and CEO John G. Doyle Jr. said that the company has worked with Lock-Tight owners, Bill Zachary and Michael Colletti, for many years to provide monitoring services for their customers.
“Lock-Tight had been a long-time customer of ours in our wholesale monitoring business, so that is really how the deal came to be,” Doyle told Security Systems News, noting that the highest priority for Doyle’s acquisition program is to build density in geographic areas where the company already has an office.
“Lock-Tight fit our profile perfectly,” he said. “Not only are they a very well run company with excellent accounts, but they also are in our targeted geography, so it adds concentration to our Rochester-area market. The fact that they were already in our wholesale monitoring operation made the integration very easy for our new customers and for us.”
He noted that Doyle Security Systems, which services more than 35,000 residential and commercial customers across New York and Pennsylvania, has “a pretty even mix of commercial and residential accounts, so we are open to both when we are looking to acquire. We have been focused on the acquisition market for many years and for the foreseeable future that will continue to be a part of our plans.”
Overall, the company ended 2016 with $885,000 in RMR, up from $815,000 in RMR at the end 2015.
“We grew our RMR by nearly 9 percent, which is a good rate of growth for us, so it was a solid year for us all around,” said Doyle. “Our installation business was ahead of plan, our bottom line was ahead of plan, and our growth was a little bit ahead of plan, so we feel really good about it. And for 2017, we are off to a good start and expect similar growth.”
The company continues to stay at the forefront in technology, keeping an eye on all of the new smart home products that are flooding the market.
“We keep a close eye on home automation features and how they are emerging, keeping close contact with our customers on what they want as well as what we think they may want,” he explained. “So we are seeing some growing interest in home automation stuff, and we are providing some offerings to our customers. We are also keeping an eye on the DIY segment that is emerging. We do not have an offering as of yet, but are contemplating that, as we think that that is an emerging distribution channel that we can do a great job with.”
On the commercial side, Doyle said that he is seeing increased demand from customers for video and access control services.
This is the first acquisition in 2017 for Doyle Security Systems, which has been family owned and operated here since 1919. Doyle Security System's history includes a CSAA “Central Station of the Year” award, the Better Business Bureau Torch Award and the Rochester Business Ethics Award.