TORONTO--In late June, UE Waterheater Income Fund, through its Union Energy operating unit, entered into an agreement to purchase full-service security company Gestion Protectron for CDN 135 million ($109 million).
Founded in 1988 and headquartered in Montreal, Protectron--a company that added 40,000 accounts to its base when it acquired Protection One Canada from Westar Energy in 2002--accounts for approximately 176,000 residential, commercial and wholesale subscribers in Quebec, Ontario and British Columbia.
LAWRENCE, Kan.--Protection One continued to reduce its indebtedness in late June as the company cut down its existing debt by $15 million, while at the same time expanding its operations in both the residential and commercial sectors.
APTOS, Calif.--Two competing independent alarm businesses are consolidating efforts in a move that will solidify the combined entity's position as one of the largest security companies in the Monterey Bay region of California.
ST. AUGUSTIN, Quebec--After struggling to reorganize the company for three years amid debt it acquired during the mass marketing age, Microtec Enterprises' shareholders approved a recapitalization plan in June that makes Microtec a wholly owned subsidiary of First National AlarmCap.
MARSHALL, Va.--Silent Partner Security Systems launched an advertising campaign earlier this year that owner Sam Rogers anticipates will assist with the company's goal of tripling the size of its residential division by the end of 2005.