Securitas Strengthens Technology Offering in USA
Monday, June 2, 2014
Parsippany, NJ - Securitas today announced that it has acquired 24 percent of the shares of Iverify, a leading remote video services company. The company operates a state-of-the-art remote video operations center, one of the largest of its kind, at its Charlotte, NC, headquarters.
With the simultaneous announcement today that Iverify has purchased 100% of the shares of TransAlarm, a strong and reliable security technology integrator, Securitas now has a 24 percent ownership position in the combined operations of the two companies. Headquartered in Minnesota, TransAlarm also provides access to a network of over 400 installers capable of covering the entire United States, Puerto Rico and Canada. TransAlarm also delivers monitoring services through its UL Listed, CSAA Five Diamond Certified monitoring facility located within their Twin Cities headquarters.
Sean Forrest, currently CEO of Iverify, will continue as CEO of the combined operations and Steve Champeau, current President/CEO of TransAlarm, will be President. Iverify will continue to be headquartered in Charlotte, NC and the two existing monitoring centers will serve as fully capable, redundant back-up sites for one another. The joint operations will employ 300 people.
“Iverify and TransAlarm are a perfect match,” says Securitas Security Services USA CEO Santiago Galaz. “They are both customer service driven leaders in their industry and deliver complementary services to the marketplace. The new Iverify that emerges from this transaction will not only provide reliable solutions for customers seeking remote video services but also provide the capacity for installing associated technology, all with a nationwide reach.”
Driehaus Private Equity is Securitas’ co-investor in this transaction. Galaz expects the collaboration with Driehaus Private Equity to help drive Iverify’s continued success. “Driehaus has a proven track record in business development and we are excited to be working with them,” Galaz says. ”We fully expect their entrepreneurial spirit will be an asset with what is clearly a rapidly growing business.”
Galaz says that in addition to strengthening Securitas’ competitive position in the USA as an integrated security solutions provider, it will also enable the company to execute a strategy that will allow it to create alternatives given the implementation of the Affordable Care Act.
“We welcome the collaboration,” Galaz says, “and the long-term value it will bring in creating effective and cost-efficient solutions for our customers.”