ASPEN, Colo.—Mountain Acquisition Company, a holding company based here, recently announced the purchase of Western Security Systems, which is based in Steamboat Springs, Colo.
Western Security Systems has 1,300 accounts and about $43,000 dollars in RMR, Chris Heath, Mountain Acquisition’s CEO, told Security Systems News. This purchase brings MAC to more than $435,000 in RMR and nearly $12 million in annual revenue. The deal was finalized on May 4.
“It fits so neatly into our geographic footprint and the kind of customer base that we’re used to. There are really no operating surprises, there’s really no tremendous difference in the customer base or the demographics as compared to our other branches. So, it will be business as usual from a management and operating standpoint,” Heath said.
Western Security’s account base is about 60 percent residential, according to Heath. “It’s similar to the mix in the company overall,” he said. “It fit our investment criteria nearly exactly. Having a market share leader, in our geographic foot, with single digit attrition—those are our primary criteria.”
The deal will consolidate MAC’s presence among Colorado ski resort communities, Heath said, which has been a primary focus for the company since it acquired Apex Security, based here, in 2006.
Tim Stanley, MAC partner, is relocating from the company’s Denver office to Steamboat Springs to manage the business, Heath said.
MAC currently plans to keep the Western Security System name and branding. “We’ve found out—[through] other acquisitions—that these brands in smaller markets do have real equity,” said Heath. “Rather than jump in and rebrand, we are taking a very measured approach to evaluating that opportunity and so far, we’ve maintained the brand equity in all of the markets where we’ve made acquisitions.”
Other companies in MAC’s portfolio include Apex Security, Integrated Systems, Eagle Security Systems and Superior Alarm & Electronics. MAC maintains offices here as well as in, Glenwood Springs, Silverthorne and Denver in Colorado and an office in northern California.Topic: Residential Tags: Mountain Acquisition Company, Mac, Western Security Systems, Chris Heath, Tim Stanley