Companies create new offerings for dealer base
INDIANAPOLIS—Stanley Security, based here, acquired wholesale monitoring company SentryNet, resulting in new programs for SentryNet's dealer base.
"Around the beginning of 2015, we started in conversations with SentryNet about the acquisition. Over that time we worked with them and closed the acquisition on Aug. 3," Julie Beach, Stanley VP sales and marketing told Security Systems News. "Through that acquisition we acquired alarm monitoring services for approximately 650 independent alarm dealers."
Beach said that the company wanted to finalize its new offerings to SentryNet dealers before making an formal announcement of the acquisition.
SentryNet is based out of Pensacola, Fla., with its main central station in Memphis, Tenn. It will operate independently, Beach said, maintaining its same name, sites and website. The company will be under Stanley's Software and Controls division.
"Dealers will not notice much of a difference. The same people are in place," David Avritt, president of SentryNet, told SSN. "It's been a hundred days and … not a single person has lost their job."
Both Beach and Avritt declined to release financial details on the sale. "But, evidently it was fair to both of us because we made the deal happen," Avritt said.
Avritt said that this acquisition will lead to growth for the company, including bringing on more employees and new equipment.
Stanley and SentryNet are working together, creating new programs for SentryNet's dealers, Beach said, such as one that gives dealers access to marketing materials, such as yard signs or trade show materials.
Avritt said that the acquisition will benefit SentryNet's dealer base. "That was my interest in selling to Stanley … that they have a lot of different products and a lot of ways that they can help our dealers become much bigger dealers."
"We really wanted to become a life cycle company—meaning that our goal, long term, is to help a dealer in every aspect of their life," Avritt said. This includes teaching dealers about RMR and growing their business in the beginning, providing professional advice as they grow, and help sell the business as they choose to exit, Avritt said.
The companies met through a common financial advisor, Pro Finance, Avritt said.