Proguard secures credit facility, makes first buy

BASALT, Colo.—Proguard Protection Services Inc., a full-service, family owned security company based here, announced recently that it secured a $2.75 million senior secured credit facility through CIBC Bank, and completed its first acquisition—the purchase of more than 1,900 accounts and other assets from Allied Security Group of Breckenridge, Colo.

“We are very excited to be working with such a great bank and lucky to have the leadership of David Stang in this process,” Frank Bauer, Proguard Protection Services president, told Security Systems News. “With this acquisition, keeping the team and local support in place was our primary goal, and customers who have come to rely on Allied will still have that local presence.”

Both Reggie Harmon and Kevin Eisenman, former co-owners of Allied Security, will remain with the company, along with their entire staff, and the company will continue to operate as a branch of Proguard. Bauer said that he is excited to bring on the Allied team, noting, “They are a perfect fit for expanding our operation into Breckenridge and surrounding areas. We are very fortunate to be able to have them as part of the Proguard family."

David A. Stang, founder and president, Stang Capital Advisory LLC, told SSN via email, "Stang Capital Advisory was happy to lead the acquisition financing effort for Proguard, a strong, growing regional security alarm company. This deal demonstrates the solid demand for quality transactions from industry banks."

Bauer pointed out that he sees great growth potential for Allied and is excited to bring to the company the same kind of the technological innovation that he brought to Proguard when he took the company over from his father.

“Allied is not a company that needed fixing or was hurting in any way—fantastic profit margins, strong market leader, and amazing customer service history—it just had some owners that needed some help to grow the company,” he explained. “Allied has a lot of organic growth potential and with the right software platform and business upgrades they can lift the ceiling and grow even stronger.”

Allied's accounts are an even mix of residential and commercial, while Proguard does around 85 percent residential, said Bauer.

“Bringing Allied on board definitely helps us to strengthen our commercial offering and having some of the Allied team with their certifications will strengthen us moving forward in that market and fill in the gap between the Aspen market and the Breckenridge market,” he noted. “Our clients demand a certain level of service that you can only provide with local support, so we are going to let Allied do what it does best—stay in its local area and support its local clients. That really shows our dedication to customer support.”

The team at Davis Mergers and Acquisitions Group was the broker representing Allied and assisted both companies in achieving this successful transaction.