Neighboring companies find synergies in their differences
WOBURN, Mass. - Two neighboring life safety and security companies, each with a different focus, recently joined forces to tap into the otherÃ¢â‚¬â„¢s expertise.
This spring, fire systems experts B and T Security and Safety Systems relocated its office from Mal-den, Mass., to here, several months after it was bought by Ultraguard Protective Systems, a full service and traditional security company. Terms of the transaction were not released.
For B and T Owner Jack Beckwith, the sale of his company enables him to tap into UltraguardÃ¢â‚¬â„¢s administrative expertise and share some of the responsibilities of running a company he started in 1976.
Ã¢â‚¬Å“Working 24/7, seven days a week wears on you after 27 years,Ã¢â‚¬Â said Beck-with, who remains president of B and T, a company he named after his sons, Brian and Tim.
For Ultraguard, a relatively young company in the security industry with only four years in the business, buying B and T provides it with extensive expertise in the fire market. B and T came with design, installation, service and fire inspection know-how, said Jim Baker, president and owner of Ultraguard.
Ã¢â‚¬Å“They had all the certifications that are very difficult to get,Ã¢â‚¬Â said Baker. Ã¢â‚¬Å“B and T brought the resources, the knowledge and the tools to the table.Ã¢â‚¬Â
Together the companies employ 52 people and are expected to generate $5.5 million in sales for 2003 and $100,000 in monthly recurring revenue each month.
Though now part of Ultra-guard, B and T will retain its name, which is well-known in the greater Boston area.
Baker said Ultraguard will also be able to capitalize on B and T customers who need burglar alarms, a service B and T did not offer previously.
Ã¢â‚¬Å“What they brought was a very educated staff, a good education,Ã¢â‚¬Â said Baker. Ã¢â‚¬Å“We didnÃ¢â‚¬â„¢t do it as an overlay acquisition. We did it as a full acquisition. We wanted the people and the staff.Ã¢â‚¬Â