DENVER--Red Hawk Industries, a systems integrator specializing in the financial market, announced in January the acquisition of New England Security, a firm with more than 30 years of experience in bank design and construction. Red Hawk did not disclose terms, but confirmed it had acquired 100 percent of NES stock.
FORT WAYNE, Ind.--Pierre's Entertainment Center, a 60,000-square-foot nightclub complex that can serve as many as 4,500 people on a given night, completed the installation of a $250,000 networked security system this month.
SAN ANTONIO--Now that Julie Smith Nelson has sold her guarding firm, Smith Legacy Security, to Initial Security, what's next? Installation and manufacturing, through her seven-year-old company SLS Systems.
"I always had a installation arm running parallel to the guarding," Nelson said, and she's launching a new product that she's developed after years of working with guards.
MIAMI--On the strength of a robust condominium market and good relationships with area developers, Miami-based Future Connections is growing at a triple-digit rate. Company president David Orsham said that after just six years in business the low-voltage integrator expects to hit $10 million in revenues in 2006, "and we're expecting that to go to $25 million next year.
SAN ANTONIO--Initial Security, a subsidiary of United Kingdom-based Rentokil Initial, announced in December the purchase of Smith Legacy Security, a medium-sized guard firm in the San Antonio area. SLS owner Julie Smith Nelson will use the undisclosed proceeds to focus on another aspect of the security industry (see accompanying story, this page).
CORTE MADERA, Calif.--Smart-Tek Solutions, a holding company competing in the security market through Smart-Tek Communications, announced in November it will cancel 33 million shares of common stock currently issued and outstanding.
KAUA'I, Hawaii--Amid the sunny climes and sandy beaches that typify a convention here, PSA Security Network members convened for a business meeting that president and chief executive officer Bill Bozeman declared, "the most important we have ever held." In a move approved by PSA's Board of Directors in September and voted on by the membership here in late October, PSA is "restructuring the organization," said Bozeman.