Beltsville, MD (PRWEB) November 12, 2007
Alarm Security Group, LLC ("ASG Security"), one of the largest electronic security companies in the United States, announced today that it has acquired Matrix Security Group, Inc., headquartered in Turnersville, NJ. Matrix Security Group is a commercial and residential security systems provider with more than 33,000 customers and approximately $1.0 million in recurring monthly revenue ("RMR") in the Mid-Atlantic States.
ASG's Chief Executive Officer, Joe Nuccio, stated that "Matrix's customer base will add significant market density and synergy to ASG's existing branch operations while providing ASG a robust platform to expand into contiguous markets. It has been our goal to find the right platform for continued regional expansion. Matrix Security Group strengthens our existing operations and gives us an immediate entry into New Jersey and the Carolinas. We look forward to working with their very talented employee base and the dynamic culture the combined companies will create".
"Our customers and employees have always been extremely important to us. I am really pleased that they are joining an elite company like ASG where there will be even greater opportunities for them in the future," commented Ira Riklis, CEO of Matrix Security Group.
BarnesAssociates assisted ASG in the transaction. Parthenon Capital, ASG Security's financial partner, provided financing for the transaction.
About ASG Security
Headquartered in Beltsville, MD, ASG Security is a super-regional electronic security and monitoring company with full service operations in the Mid-Atlantic region and throughout the State of Texas. Recognized as the 15th largest U.S. electronic security provider, ASG designs, installs, monitors and services security systems for the commercial/industrial, government and residential market sectors. The company provides a full array of solutions including video surveillance, access control, monitored fire and intrusion alarm systems to more than 77,000 customers. For more information, visit http://www.asgsecurity.com.