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CSG gains $40 million in financing

 - 
Wednesday, July 12, 2017

Central Security Group on July 6 announced that it received an incremental first lien term loan of $40 million, as well as a 12-month maturity extension to its credit facilities.

The new funding “is part of a broader $350 million financing the company started in 2014. This was an add on to that financing,” Richard Ginsburg, president and CEO of Central Security Group, told Security Systems News in an email interview. CSG finances through Credit Suisse, Ginsburg noted.

Asked about growth initiatives, Ginsburg said, “We continue to grow our business through our long-standing Authorized Dealer Program, supplemented by our organic efforts.”

In the recent announcement, Ginsburg mentioned that the funding will help the company with geographic expansion, acquisitions and growing its account base. The announcement also emphasized the company’s Alert 360 offering, which provides interactive security.

Concerning acquisitions, Ginsburg told SSN, “We are always looking but are very selective.”

Ginsburg discussed what CSG looks for in an ideal acquisition. “We would consider quality companies with customers put on through more traditional marketing,” he told SSN. “We also look for companies with good employees and managers who are hitting glass ceilings because of the company's size and who would benefit from a company like ours, with more resources, financing, and a positive culture.”

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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.
 

Richard Ginsburg named CEO of Central Security Group

Former Protection 1 CEO will take CSG national
 - 
07/08/2014

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.”

Tornado spares CSG office in Oklahoma City

Branch manager’s daughter, top-five dealer lose homes in storm
 - 
05/21/2013

TULSA, Okla.—Monday’s devastating tornado spared Central Security Group’s office in Oklahoma City, but the homes of the branch manager’s daughter and a CSG dealer were among the hundreds that were destroyed, CSG’s Glenn Albers told Security Systems News on Tuesday.

Central Security: New capital, new growth plans

With a new private equity owner, the company is enhancing its dealer program and adding new technology
 - 
02/17/2011

TULSA, Okla.—In late 2010, Central Security Group got a new owner: a private equity group. Now, this year, CSG is taking that infusion of new capital and putting it to work to grow the company—by adding new technology and creating a new brand for its dealer program.

Industry veteran joins CSG

SSN Staff  - 
02/14/2011

TULSA, Okla.—Central Security Group on Feb. 8 announced Jackie Schmidt as its new director of dealer development.