ICV Partners Announces Acquisition Of SAFEÂ® Security, Inc.
NEW YORK, Dec. 4, 2012 /PRNewswire/ -- ICV Partners (ICV), a leading investment firm focused on lower middle market companies, announced today the acquisition of SAFE Security, Inc., a leading provider of residential and commercial security alarm systems, industry-leading monitoring services, and support services.
Cory Mims, a Managing Director of ICV, said, " Paul Sargenti has built SAFE into a strong company that today provides a valuable and compelling service to a broad and growing customer base. The security alarm industry is highly fragmented and stable and has demonstrated resilience through the last recessionary period. We are confident that with a stable source of capital and additional expertise from ICV we can work with Paul and his strong management team to further grow the company."
Headquartered in San Ramon, CA, SAFE is engaged in the business of purchasing, servicing and monitoring security alarm contracts. The Company was founded in 1988 by CEO Paul Sargenti and today provides monitoring services, installation, maintenance and other related services to homeowners and businesses across the nation. SAFE sources new accounts primarily by purchasing existing security alarm contracts from other security alarm companies and develops new accounts from a broad network of dealers nationwide. Among the nation's 12,000 security dealers, SAFE's portfolio generates gross revenues that put it consistently in the top 25 U.S. alarm companies.
Mr. Sargenti, said, "The security alarm industry has 20 years of stable growth and our exciting new partnership with ICV will help accelerate our growth initiatives in existing and new markets. ICV has a long history of successfully partnering with founder-owned companies and we look forward to working with them."About ICV PartnersFounded in 1998, ICV Partners is a leading private investment firm that supports management leaders of strong companies at the lower end of the middle market. The principals of ICV have crafted a strong track record of helping companies improve performance over the long term and across a variety of industries. ICV seeks to make control investments in market leading businesses with $25 million to $250 million in revenue. Additional information is available at www.icvpartners.com. Contact: Chris TofalliChris Tofalli Public Relations, LLC914-834-4334 SOURCE ICV Partners
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