Rapid Security Solutions of Sarasota, Fla., is growing rapidly following an acquisition, announced today, of Armenti Construction and Access Control, Inc, of Lake Worth, Fla.
I had a chance to speak to Steve Paley, president and COO of Rapid, (and also president of the new Florida chapter of ESA) this afternoon.
Paley said the deal doubles the size of his company, bringing 10 new employees and a number of accounts, notably with gated communities in the Palm Beach county area. "The former owners (Bill and Danielle Armenti) will stay on for the transition." New staff members include 6 technicians and 4 sales and office personnel. "They're outstanding. We're happy to have them join our team," Paley said.
"It's a great location; we needed to be there," Paley said. Armenti's work involved installing lots of security gates and "about 5 percent video [at the communities]," Paley said.
Rapid's plan is to go in and "on top of the gate work, we lay in video and access control ... it's a huge opportunity to gain a greater share of their wallet."
Rapid now has two offices: its home office in Sarasota and now one in Lake Worth. It has warehouses and staff members in Tampa, Orlando and Cape Coral, but Paley said the company will have brick and mortar in all locations--and plans to "double in size within two to three years."
The growth will come from acquisitions and organic growth. Paley said Rapid is "fortunate to have good financial partners that believe in our strategic plan."
Steve Rubin of Davis Mergers and Acquisitions assisted Armenti in the deal.
Look for more on this deal later this week.