Subscribe to RSS - Protection 1

Protection 1

SAFE Security acquires 24,000 accounts from Pinnacle

 - 
02/06/2013

SAN RAMON, Calif.—SAFE Security announced this week that it has acquired about 24,000 alarm monitoring accounts from Orem, Utah-based Pinnacle Security. The accounts represent $1.1 million of RMR, according to SAFE, which is based here.

Pinnacle Security fined more than $500,000

 - 
Monday, February 4, 2013

Summer-model Pinnacle Security is getting a fresh start after traditional-model home security giant Protection 1 recently purchased select assets from the company.

The deal has great potential, according to an alarm company owner who has married both models.

But it appears that problems from Pinnacle’s past continue to dog it. According to news reports, the Utah-based company now has to pay $525,000 as the result of a lawsuit filed by California’s Contra Costa County, charging Pinnacle with deceptive business practices.

It's not the first time Pinnacle has been sued over such issues.

Over the years the company has been accused in a number of states of deceptive sales practices. Last fall, for example, Pinnacle agreed to pay a $1 million fine in a settlement with the state of Illinois for such alleged violations as “slamming” customers and even hiring felons as sales reps.

According to a news report, the following information was released from the office of Contra Costa County District Attorney Mark A. Peterson. It said that the civil judgment against Pinnacle, in addition to the payment of penalties and costs:

 

o    Requires Pinnacle’s sales representatives to refrain from making false and misleading statements during the door- to-door sales presentations.
o    Prohibits Pinnacle sales representatives from telling consumers that they will get free or discounted products or services if they allow a Pinnacle sign to be placed in their yard.
o    Prohibits Pinnacle sales representatives from telling consumers that sales representatives are engaging in “seed marketing, advertising, marketing, or increasing Pinnacle’s visibility in the neighborhood”.
o    Requires that Pinnacle sales representatives comply with section 17500.3 of the Business and Professions Code by immediately verbally identifying themselves, who they work for, and what they are selling.
o    Requires that Pinnacle use contracts that comply with California’s Unruh Act and federal regulation Z pertaining to retail installment contracts by disclosing, among other things, the total price of the alarm monitoring service for the initial contract term of years.
o    Requires that Pinnacle use Spanish language contracts for customers to whom the sales presentation was made primarily in Spanish.
o    Requires that whenever a sale is made to a customer who already has monitoring equipment installed by another monitoring service provider, that Pinnacle shall not remove that customer’s existing monitoring equipment until such time as the three-day cancellation period (applicable to door-to-door residential sales) has expired.
o    Puts limits on the amount of contract termination fees that can be charged to customers.
o    Requires the payment of restitution to certain customers; and
o    Requires that Pinnacle adopt specified provisions to monitor the future conduct of their sales representatives.

 

Pro 1's Pinnacle purchase parsed

Marrying a brick-and-mortar model with door knocking has rewards, but there are challenges as well, says a company owner who uses both models.
 - 
01/30/2013

LANCASTER, Pa.—Protection 1 is not breaking new ground in acquiring Pinnacle Security assets so it can integrate Pinnacle’s seasonal selling model with Protection 1’s brick-and-mortar approach, says the owner of a traditional security company that already has added summer sales to its mix.

Barnes Buchanan conference to kick off Feb. 7

 - 
01/29/2013

PALM BEACH, Fla.—The 18th annual Barnes Buchanan Security Alarm Conference is scheduled for Feb. 7-9 at The Breakers resort.

Pro 1 dives into summer sales with Pinnacle buy

Pro 1 acquires ‘select’ Pinnacle assets, saying it wants to integrate Pinnacle’s ‘seasonal selling model’ with Pro 1’s ‘brick-and-mortar’ approach
 - 
01/28/2013

ROMEOVILLE, Ill.—Protection 1 is getting into the summer-sales market by buying some of the assets of Pinnacle Security, one of Utah’s leading door-knocking companies.

Interface completes $230m refi, gets new $45m revolver

Imperial Capital advises, predicts more high-yield bond deals
 - 
01/23/2013

ST. LOUIS—Interface Security Systems, based here, last week completed a $230 million bond deal and also secured a new $45 million revolver from Capital One.

Protection 1 makes biggest buy in its history

 - 
01/09/2013

ROMEOVILLE, Ill.—Protection 1—which bills itself as the nation’s second-largest business and home security company—announced this week that it has acquired Vintage Security, which is based in the nation’s capital and has more than 15,000 customers. Protection 1, based here, says the acquisition is the largest it has made in its 25-year history.

Banks are a key vertical and video surveillance is central to solution

Regulatory compliance a top concern, use of analytics on the rise
 - 
01/02/2013

Several national security providers—among them Diebold, Stanley Security Solutions and Protection 1—said they would be focusing on the financial and banking vertical market in 2013.

ECKey closes funding round

Investors include industry vet Robert Chefitz
 - 
10/17/2012

LANCASTER, Pa.—ECKey, a startup manufacturer of smartphone access-control readers and systems, has closed its first funding round, Paul Bodell, ECKey president, told Security Systems News.

Protection 1 makes another commercial buy

 - 
Wednesday, October 17, 2012

Things have been busy in Romeoville this quarter. Protection 1 announced Tuesday that it’s made another buy. An IT-centric systems integrator, based in Fort Worth, Texas, called Suntera Security.

It’s a really interesting purchase and comes on the heels of another IT-centric buy P1 announced at ASIS, of Integration Logistics. Here’s that story.

Suntera brings P1 into some new territory with its GSA contract, DoD work and some big-name customers such as Bell Helicopter, Lockheed, XTO Energy and ExxonMobil.

I’m on the road right now, but will be interviewing someone at Protection 1, hopefully today, so check back for a story on this as early as Thursday morning.
For now, here are some excerpts from the release:

“Suntera is an IT-centric systems integrator and, for Protection 1, the move is a continuation of its effort to build out a true integrated systems division for today’s IT landscape.
Suntera serves the complex security needs of a broad range of commercial clients with a specialization in Department of Defense (DOD)-related security clients and the energy markets. The company has played an integral role in working with cities to author security requirements to protect citizens from potentially dangerous industrial sites close to urban areas.
“Our acquisition of Suntera will truly be mutually beneficial,” said Protection 1 Chief Executive Officer Timothy J. Whall. “We’re now able to expand our offerings to existing and future clients that are looking to leverage their IT infrastructure to create additional reliability and cost savings for their security systems. In addition, Suntera customers will benefit from Protection 1’s broader footprint and ability to offer services on a national basis.”
The addition of Suntera adds 15 employees to Protection 1’s roster and the General Services Administration (GSA) contract, along with the Texas Mutual Award Schedule (TXMAS), will be transferred as well. This will enable Protection 1 to provide services to both Federal and state government agencies, as well as others requiring DOD security requirements.
The more comprehensive offering also allows Protection 1 to provide additional options for Suntera’s current customers, particularly with their latest video services. Other noteworthy customers now under the Protection 1 umbrella include Bell Helicopter, Lockheed, XTO Energy and ExxonMobil.
“We’re excited to begin working with Protection 1’s outstanding leadership and highly technical staff,” said Les Vernon, Suntera’s founder. “This enables us to not only strengthen our focus on custom integration solution designs, but also expand our ability to provide proactive monitoring services knowing the Protection 1 infrastructure is able to support future growth.”
This is the second integrated solutions acquisition in as many months for Protection 1. In September, the company added Newark, Del.-based Integration Logistics, adding new integrated systems capabilities to its commercial and national account security offerings.
The additions allow Protection 1 to provide a more robust customer experience in terms of products and services, while growing its employee base with subject matter experts on various topics. The company has experienced triple-digit growth over the past two years in its national account division – growth that is attributable to Protection 1’s strong and growing knowledge of integrated and highly complex network-based solutions.”

Pages