Stanley CSS Expands Canada Operations with Acquisition of the Assets of First National Alarmcap
NAPERVILLE, IL (September 19, 2011)—Stanley Convergent Security Solutions (Stanley CSS) has announced the purchase of all of the operating assets of First National AlarmCap Income Fund (TSE:FNA.UN), a leading alarm company headquartered in Edmonton, Alberta with major operations in Quebec City and Montreal, Quebec, Canada. AlarmCap is Canada’s fourth largest alarm company. The company, operating under the brand Microtec Security Systems, provides sales, installation, service, monitoring and maintenance of intrusion, fire, video, and access control systems. The agreement reached between Stanley CSS and First National AlarmCap Income Fund provides for the sale of 100 percent of the issued shares of Microtec Enterprises Inc., which contains the operations and business assets of the Fund.
“This is exciting news for Stanley CSS, as we transform our Canadian operations with this acquisition,” said Tony Byerly, President, North America & United Kingdom Direct. “The acquisition of AlarmCap gives us even greater reach into the Canadian market, allowing us to offer even more services to our existing and prospective Canadian customers. Stanley not only significantly increases our Canadian customer-base, but we also secure two ULC certified monitoring centers in Quebec City and Montreal, which will expand Stanley CSS’ bilingual capabilities in Canada. This will enable us to expand our services for local, national and global accounts across North America.”
The purchase of AlarmCap will augment Stanley CSS’ presence in the Canadian market and increase the customer base by about 79,000 residential and commercial customers. AlarmCap has a wide range of current commercial customers, including some key accounts that will be added to the Stanley CSS National Account Program. The acquisition brings with it approximately $1.8 million in recurring monthly revenue (RMR).
“With Stanley CSS’ commitment to quality, an expanded array of security products and services, and global resources to deliver, our customers will receive the highest level of security and service available today,” commented Fred Fong, President and Chief Executive Officer of AlarmCap, on the acquisition.
“We believe this acquisition complements our North American operations. It is very similar to Stanley’s purchase of HSM in the U.S. in 2007; bringing together our existing systems integration business in Canada, formerly Frisco Bay, with one of the country’s leading alarm monitoring companies. The newly combined entity forms Canada’s third largest electronic security provider,” continued Byerly. “We are also proud to add AlarmCap’s customers to the Stanley CSS family. They have Stanley’s commitment they will receive nothing but the finest security products and services. As we continue to expand our presence into the Canadian market, we will provide unparalleled commitment and dedication to operational excellence across the five customer touchpoints: account management, installation, service, monitoring and billing. As always, we will provide our customers the resources of a global company, but with a local touch.”
# # #
Editor’s Note: A part of Stanley Black & Decker (NYSE: SWK), Stanley Convergent Security Solutions is the second largest electronic security company based on total revenue and one of the largest system integrators in the United States and Canada. Stanley CSS has over 75 offices serving over 120 of the largest metropolitan markets in North America. Stanley CSS designs, installs, monitors and services security systems for industrial, government, commercial, residential and national account customers. Stanley CSS represents a network of resources, state-of-the-art technology and a culture dedicated to excellence; where its employees have the training, the equipment and the processes they need to deliver the finest security solutions in the industry. Stanley CSS provides the best of both worlds, a local company with global resources and one of the most trusted names in security serving over 300,000 customers in North America.