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Jeff Frye

Interface deal good for the industry

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Wednesday, August 9, 2017

The $600 million Interface Security Systems deal has sent—as The Beach Boys once sang—“good vibrations” throughout the security industry, as it provides not only a vote of confidence for what Interface is doing as a modern systems integration company, but also a vote of confidence in the security industry, in general, as companies like Interface represent a new breed of integrator that is staying at the forefront of new technology and innovation.

John E. Mack III, executive vice president, co-head of investment banking and mergers & acquisitions at Imperial Capital, which acted as financial advisor to Interface on the deal, astutely pointed out that this deal goes beyond validation of what Interface is doing in the space.

“This is a very cool story for the sophisticated new-age security provider, which is what Interface is—the 2.0 version of what the right kind of security player should be,” he told Security Systems News. “We spend so much time in this industry talking about the residential side of the business, which is interesting, but there is a massive opportunity on the commercial side of the business that Interface is tapping into that I think is a compelling theme.”

He continued, “There is a lot of validation for a very successful business model here that Prudential is putting up $180 million of new capital, and SunTx is putting up additional capital into the deal. And that you’ve got a very attractive set of debt investors, and just the fundamental backing for the business, is a meaningful part of a positive message for the industry.”

Jeff Frye, SVP for Interface, told SSN that the support from equity partners is not only a stamp of approval for what the company is doing, but the “capital gives us more fuel to build on our current, better than 15 percent compounded annual growth rate, so we know that we can do more with a little more gas in the tank and we are anxious to prove it.”

Frye noted that the equity will allow the company to expand its products and services around providing business intelligence, as security is becoming so much more than just, well, security.

“As a network provider, and a managed services provider of network services and cybersecurity services, we touch a lot of aspects of our customers’ businesses,” Frye explained. “And as a leading purveyor of Internet of Things services, we are able to aggregate intelligence from all of those sensors and data sources to bring actionable insights to a customer’s business. There are some new verticals that we would like to focus on more, including financial services and banking, so this makes that horizon much brighter and much more approachable.”

And it also makes the security industry’s horizon a little brighter.

Interface Security Systems closes on $600m refinancing for new capital structure

Funding to accelerate growth, double data center capacity within one year
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08/07/2017

ST. LOUIS and PLANO, Texas—Interface Security Systems on Aug. 3 announced the completion of a $600 million refinancing for a new capital structure that will facilitate strategic growth and expansion, with substantial contributions of new growth equity capital of $125 million from SunTx Capital Partners and Prudential Capital Partners.

Interface Security remodeling command center in Texas

Facility expanding to meet growth in business and company
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01/18/2017

EARTH CITY, Mo.—Interface Security Systems Holdings Inc., a national provider of cloud-based managed network services and security systems for retail, commercial and small business customers, is remodeling its command center in Plano, Texas, to meet the expanding needs of its growing clientele.

News Poll: Cybersecurity is becoming a physical security matter

Though, some readers say more ‘definition’ is needed
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03/25/2015

YARMOUTH, Maine—As cybersecurity becomes a common topic of conversation among physical security systems installers, Security Systems News asked its readers whether they’re concerned about cybersecurity threats and what their companies are doing to safeguard themselves and their customers.

Interface lands 8,200-location deal with Family Dollar

Managed services bundle includes all physical and network security, video verification, PCI compliance, will include mobile applications, big data analytics in future
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03/04/2015

ST. LOUIS—Systems integrator Interface Security Systems (ISS) is more than halfway through a technology makeover for all of Family Dollar’s 8,200 retail store locations.

Market Trends: NOC, NOC

Who’s there at Network Operations Centers in the security industry today and in the future?
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11/11/2014

YARMOUTH, Maine—Like many elements of the competitive and warp-speed security industry, network operations centers have different meanings for different players in different roles.