Tag: Pinnacle Security
SAFE Security buys more Pinnacle accounts, doubles in size
October 9, 2013Tess Nacelewicz
SAN RAMON, Calif.—SAFE president and CEO Paul Sargenti reports that the company has more than doubled in size within the last year and recently acquired 6,000 additional accounts from Pinnacle Security.This year, which marks SAFE's silver anniversary, Sargenti told Security Systems News, “We have exceeded all the goals that we established in our budget and model. We're about 180 percent of our goal right now, so the forecast we put together in December of last year for 2013 has become...
Pinnacle Security sued in lawsuit stemming from fatal fire
October 9, 2013Tess Nacelewicz
ARLINGTON HEIGHTS, Ill.—An insurance company is suing Pinnacle Security in an attempt to recover its costs in a 2011 lawsuit brought against Pinnacle and a monitoring company by the children of a firefighter who died in a house fire.
First Mercury Insurance has been paying to defend the lawsuit on behalf of a client it insured, Security Associates International (SAI), which is based here and provides monitoring services. However, First Mercury contends that Pinnacle should be covering SAI's...
SAFE Security acquires 11,000 Pinnacle accounts
March 11, 2013SSN Staff
SAN RAMON, Calif.—SAFE Security, a security alarm company based here, has acquired approximately 11,000 security alarm monitoring accounts from Utah-based Pinnacle Security, according to a company statement. The subscriber accounts represent $500,000 of RMR.The vintage accounts created between 2008 and 2010 are similar to the 24,000 accounts acquired by SAFE from Pinnacle in early February, the company said.“This completes phase II of the Pinnacle account transaction, and when added to...
SAFE Security: $130 million refi to aid growth
March 6, 2013Tess Nacelewicz
SAN RAMON, Calif.—SAFE Security completed a $130 million senior debt refinancing in late February with five lenders led by Bank of America. The new credit facility is an increase of $55 million, or 73 percent, over SAFE's previous financing of $75 million.“It gives us the financial flexibility to pursue our growth strategy,” Paul Sargenti, company president and CEO, told Security System News.He recently told SSN that SAFE's growth strategy involves leveraging its four channels:...
SAFE Security embarks on 'exciting new chapter'
February 20, 2013Tess Nacelewicz
SAN RAMON, Calif.—SAFE Security is offering a $10,000 bonus to dealers who sign up by the last day of ISC West this year, the company announced this week.The announcement is the latest development from one of the nation's largest full-service security companies. It is based here and now does business in 46 states.In the past three months, SAFE also got a new private equity owner, also bought 24,000 accounts from Pinnacle Security—which allowed it to expand into Alaska and New Mexico—and...
This Blog's on Fire (And Other Stuff)
SAFE Security expands into DIY, with help from Honeywell
February 13, 2013Tess Nacelewicz
Wow! SAFE Security is really making news lately. First, it was acquired late last year by ICV Partners, a New York-based investment firm focused on lower middle-market companies.
Then, it announced earlier this month that it had just bought about 24,000 alarm monitoring accounts from Orem, Utah-based Pinnacle Security—a summer-model company the select assets of which Protection 1 recently purchased.
Now, SAFE announced today that it's entering the DIY home security market by launching...
Pro 1's Pinnacle purchase parsed
January 30, 2013Tess Nacelewicz
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.
“We've had three successful years at this and my message is anyone can do this,” said Patrick Egan, president and owner of Select Security, a super-regional based here that first...
Pro 1 dives into summer sales with Pinnacle buy
January 28, 2013Tess Nacelewicz
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.
Protection 1, a traditional-model security company based here that now bills itself as “the largest full-service provider of business and home security in the U.S.,” announced in a news release that it has purchased “select assets from Utah-based Pinnacle Security, including certain proprietary IT infrastructure...
Devcon 'getting back to core business'
December 28, 2012Martha Entwistle
NEW YORK—At the Imperial Capital Security Investor Conference here on Dec. 13, Devcon's chairman of the board, Christopher Munday, spoke frankly about the company's challenges in the past couple of years—including an ill-fated branch expansion. He confirmed that the company is actively seeking a buyer and shared several operating and financial metrics to support his assertion that the company is on strong footing.
In 2010 and 2011, Devcon hired many former Brink's Home...
Pinnacle streamlines staff
December 5, 2012Tess Nacelewicz
OREM, Utah—After recently selling a large number of its accounts to Monitronics, Pinnacle Security, a leading summer-sales-model company based here, laid off some of its staff last week.“We have streamlined or rightsized our work force,” Jared Chappell, president and founder of the company, told Security Systems News in an email interview.He declined to say how many employees were let go or what positions they held. “Changes took place in areas where there were redundancies...