ADR Security and Security Partners form joint venture

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08/16/2017

ADR Security, a full-service electronic and physical security provider based in New York City, on Aug. 11 announced a new business: ADR Security Monitoring, a joint venture with Security Partners that caters to the specific security needs of high-end jewelers in New York City.

ADR Security services about 4,500 individual sites, offering intercom, intrusion, electronic access, video surveillance, fire and life safety, locksmith and AV cabling among other services. The business, by sales, is 90 percent commercial with 10 percent in high-end residential.

“What we were trying to do was figure out a way to go to market with a solution in the jewelry industry,” Peter Goldring, EVP and COO of ADR Security, told Security Systems News. ADR found that working with Security Partners provided the best outcome. “We’re going to be able to issue central station certificates here in the New York market, serviced out of New York,” said Goldring.

Security Partners operates four redundant, UL listed, TMA Five Diamond monitoring centers throughout the United States; in Lancaster, Pa., Anaheim, Calif., San Antonio and Las Vegas.

Goldring described ADR Security Monitoring as “an extension of a retail business that still has very deep roots into the wholesale, third party business. And, it—of course—will afford the opportunity for the other third party dealers to work with ADR Security monitoring, to partner with us, to issue certificates where necessary.”

This business differs from that of a traditional alarm dealer-monitoring center relationship. “ADRSM is the full-circle approach, the operator is able to take service requests, is able to dispatch the runner. Everything is in house, under the roof of Security Partners’ facilities, helping us with the day-to-day operation of the business. So, it really is a much more intense relationship, but it truly is a partnership,” Goldring said.

“We believe there is a huge, underserved market for certificate service – bigger than ever before – and this is a great opportunity for us to partner with a strong, independent and financially solid company like ADR Security,” Patrick Egan, founder of Security Partners, said in a prepared statement.

ADRSM’s announcement mentioned the possibility of expanding after establishing a presense in New York’s Diamond District, and the company is exploring locations for its next markets. “The next two most significant markets are in California, in Los Angeles, … and then of course there’s a fairly large industry in Las Vegas, with a number of jewelry stores and high-end boutiques that often requires the certifications,” Goldring said. “Those are probably the next areas that we’ll jump into.”