Mach 7 bought by Security Services Group
EDINA, Minn. - In a move to bolster their growth in the residential market in the greater Minneapolis area, Security Services Group (SSG), based here, has purchased Mach 7 Security for an undisclosed price.
According to Shawn Dooling, president of SSG, the main reason his company purchased Mach 7 was that they felt purchasing outside accounts was a cost-efficient way to grow the residential side of the business.
Ã¢â‚¬Å“We decided we werenÃ¢â‚¬â„¢t getting the growth we wanted and decided this (transaction) was a good way to grow,Ã¢â‚¬Â said Dooling.
SSG became interested in Mach 7 because of the proximity of Mach 7Ã¢â‚¬â„¢s accounts to the rest of SSGÃ¢â‚¬â„¢s customer base, said Dooling, making it easy for the Mach 7 accounts to be folded into the rest of the accounts for service purposes.
Dooling said that the company purchased approximately 3,000 accounts in the sale, which was completed late last year. He declined to disclose how many total accounts SSG is now serving.
In a written release, John Hirteiter, former president of Mach 7, said he felt the transaction was in the best interest of both companies. Ã¢â‚¬Å“IÃ¢â‚¬â„¢m sure the customer base of Mach 7 will be in good hands with SSG,Ã¢â‚¬Â he said.
This is the second acquisition in five years for SSG.
In 1997, the company acquired 2,000 residential accounts, and Dooling said that he believes SSG has a couple more acquisitions on the horizon.
According to Dooling, SSGÃ¢â‚¬â„¢s primary business will continue to be the Ã¢â‚¬Å“commercial market as far as our internal growth,Ã¢â‚¬Â adding that SSG will continue to look toward outside acquisitions to build their residential numbers.