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Richard Ginsburg

CSG is three for three

Company acquires Allied Protective Systems

TULSA, Okla.—Central Security Group has added 6,000 customers and boosted its RMR to more than $7 million with its acquisition of Allied Protective Systems, its third buy in three months.

CSG buys again

Wednesday, January 14, 2015

CSG is adding density near its headquarters with the purchse announced yesterday of Allied Protective Systems, based in Oklahoma City.

The deal adds 6,000 customers to CSG's Guardian Security Systems, an installing security company that CSG owns.

CSG CEO Richard Ginsburg was on a plane today, but Amy will catch up with him later this week and have more to report on the deal next week. Ginsburg has been on the acquisition trail. Amy reported in October that CSG purchased two companies in Texas. Here's that story.

CSG intends to offer its new customers its "full line of interactive security and home automation options," Ginsburg said in the release.

Johnnie Fletcher, who owned Allied for 30 years, sold the company to CSG when he decided to retire after 50 years in the alarm industry, according to the news release.

CSG says it's the 8th largest residential security monitoring company in the United States. It has 200,000 customers, $7 million in RMR,  a dealer program; a monitoring and customer care center in Tulsa; a branch network; and customers in 17 states.

Vertex Capital advised CSG on this deal.

CSG buys two in Texas

Deal brings in 4,000 customers, $120,000 RMR; CSG also has new $325m credit facility

TULSA, Okla.—Central Security Group has added nearly 4,000 customers and RMR of $120,000 with its recent acquisition of two security and home automation providers, Dallas-based Fort Knox Security Services and SW Security Services.

Richard Ginsburg named CEO of Central Security Group

Former Protection 1 CEO will take CSG national

TULSA, Okla.—Super-regional security company Central Security Group today named Richard Ginsburg as CEO. Ginsburg, who as CEO of Protection 1 grew it into one of the top three security companies in the country from 2001 to 2010, said he wants to grow CSG into a “significantly larger company.”

Who will buy AlarmForce?

Tuesday, August 7, 2012

AlarmForce, a super-regional security company based in Toronto, announced that its board of directors is taking a look at selling the company. The company has hired Imperial Capital to help it with a possible sale.

The company's market cap value today is listed as $135m and its enterprise value is $119m.

I asked Richard Ginsburg, former CEO of Protection One who is now managing partner at G3 Capital Partners, what he thought about the sale of AlarmForce. He said he thought the company is well run and that CEO Joel Matlin "has done a fabulous job of identifying a segment of the market open to value-oriented products (like their new video offering) at prices that are at or lower in comparison to traditional systems with basic offerings."

Ginsburg also said he believes "a company like AlarmForce is in a great position to compete with the likes of industry leader ADT and the emerging cable and telecom companies because of [AlarmForce's] single-minded focus on enhanced services like two-way voice and now video services." He added that he believes "some of the traditional companies are in a weaker position to compete in comparison."

Ginsburg predicted the company will get "good interest"  and said Imperial Capital has "formed a great niche in the M&A sector so they are a good choice [to help out with a sale.]"

The last time I spoke to CEO Joel Matlin was back in the winter of 2010 when he was opening a fourth office in Minneapolis/St. Paul.It has offices in North Carolina (opened in 2005), Ohio (opened in January 2006)  and it opened an office in Georgia in 2007.

AlarmForce does security alarm monitoring, personal emergency response monitoring, video surveillance for resi and commercial customers. Something that’s unique about AlarmForce is that it manufactures and installs its own two-way voice home alarm systems. When I did that interview, AlarmForce had 103,000 accounts in Canada and the U.S., which Matlin told me was up from 56,700 accounts in 2006. Today the number of accounts is closer to 125,000.

“Canada is a tough country to do business in. It’s got a population the same as the state of the California, but it’s spread out over a country that’s much larger than the U.S.,” Matlin said. In addition to dense population centers that are easier to penetrate, “the perception of crime is stronger in the U.S. than it is in Canada.”

Wonder who some potential buyers might be? One possiblitiy, in my opinion would be Stanley, which expanded its resi business in Canada last summer with the purchase of Microtec Security Systems. It got 80,000 accounts and additional bi-lingual monitoring capability out of the deal.

Or I suppose AlarmForce could be a bolt-on for a telecom that’s getting into the security business. Rogers Communications maybe? Here’s a video from the summer of 2011 where we talk about Rogers Communications working (in secret!) with iControl to get into the security industry.  And here’s a story about the deal.

AlarmForce board of directors has formed a committee of independent directors to supervise the strategic review.


Devcon closing more branches

Reductions in company expenses and streamlining are designed to ‘set the stage for future success,’ CEO says

HOLLYWOOD, Fla.—Devcon Security—a super-regional based here that grew to a national player in the past year and a half—is downsizing to reduce expenses and strengthen the company’s finances for future profitability and growth, according to Devcon’s new CEO, Steve Hafen.

Devcon moves to ‘streamline,’ ‘trim’ after rapid growth

After recently expanding to 50 branches nationwide, Devcon now plans more strategic growth, according to new CEO

HOLLYWOOD, Fla.—After a rapid expansion during the past 18 months, Devcon Security is streamlining its business but is still planning to grow nationwide, according to the company’s new CEO, Steve Hafen.

Shake-up at Devcon: Hafen replaces Ginsburg as CEO

Industry veteran Richard Ginsburg departs just weeks after taking job; former Pinnacle COO Steve Hafen now at helm

HOLLYWOOD, Fla.—Devcon Security has a new CEO—its second one in about three weeks.

Richard Ginsburg new CEO of Devcon Security

Former Pro 1 CEO is back in the security business

HOLLYWOOD, Fla.—Golden Gate Capital, the owner of Devcon Security—a super-regional based here that has been rapidly expanding as a national player in the past year—has named Richard Ginsburg as Devcon’s new CEO.

The numbers on the Protection One deal


LAWRENCE, Kan., and CHICAGO—Equity firm GTCR announced today the acquisition of Protection One, the second-largest security alarm company in North America, now that ADT and Broadview have combined. Our lead story has the ins and outs of the whys and whos, including interviews with ProOne CEO Richard Ginsburg, Michael Barnes, John Mack, and principal of GTCR David A. Donnini.