SecurTek acquires Intercept accounts in $2 million deal
YORKTON, Saskatchewan—SecurTek Monitoring Solutions has acquired the customer accounts of Alberta-based Intercept Security in a $2 million deal announced on May 10.
SecurTek, based here, provides commercial and residential security, video, access control and medical monitoring services to customers across Canada. The company has central stations in Yorkton and Winnipeg, Manitoba, and in Aurora, Ontario.
Barry Rogers, SecurTek president, said the deal involved “a couple thousand” accounts serviced by Intercept, which had been providing security services for more than 20 years from its headquarters in Calgary. Sixty-five percent of the accounts are residential, 35 percent commercial.
“We’re really trying to grow our Alberta market,” Rogers told Security Systems News. “They had a very solid customer base and great recurring revenue.”
Ron Styles, president and CEO of SaskTel, SecurTek’s parent company, called the acquisition “an important move in consolidating SecurTek’s market reach.”
“We have been providing wholesale monitoring services to Intercept for some time,” Styles said in a prepared statement. “Taking over their monitored security accounts was a natural next step and we are always looking for these kind of solid acquisitions to keep SecurTek growing strong.”
The newly acquired accounts will be serviced by Guardian Security, One Stop Security and Diginex Solutions in Calgary, and by Authority Alarms in Edmonton, according to a SecurTek news release.
Rogers said negotiations were under way on additional acquisitions in 2012, but he declined to provide specifics.
“We’re trying to grow business all across the country, west and east, though our home turf is Saskatchewan,” he said.
SecurTek, which partners with 150 companies in its dealer program, is also looking at markets in the United States, Rogers said.
“We’ve got some approval to provide monitoring and management services in the U.S.,” he said. “Once we have a good acquisition target identified, we can take that to the board for approval.”