ASG acquires Matrix

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11/12/2007
ASG has been busy, busy, busy. It followed up the Oct. 26 recap (search for "ASG recapitalizes" in www.securitysystemsnews for details) with today's announcement of the acquistion of Matrix Security. ASG CEO Joe Nuccio, who was on his way to Securing New Ground (in Manhattan, Nov. 14-15), said the deal“brings some very, very talented employees into the ASG family; we’re looking forward to growing and developing in those markets,” he said. Matrix has 33,000 accounts and $1 million in RMR, bringing ASG’s total to $3.8 million in RMR and to roughly 108,000 customers. This buy moves ASG into new contiguous geographic areas—the Carolinas and Northern New Jersey. Matrix has 12 branch offices, five in North Carolina, two in Virginia, two in New Jersey, and one office in the states of Maryland, Delaware and Pennsylvania. “Our customers and employees have always been extremely important to us. I am really pleased that they are joining an elite company like ASG where there will be even greater opportunities for them in the future,”said Ira Riklis, CEO of Matrix Security Group, in a statement. Barnes Associates helped negotiate the deal. Financing was provided by Parthenon Capital.