From PrivateOfficerBreakingNews
PLAINVIEW, N.Y.Feb 14 2017—General Security, a full-service security company based here, recently acquired New York Merchants Protective Co., based out of New York City, adding 3,500 accounts.
“We were interested in doing a little more business in Manhattan and [the acquisition] certainly did that. It opened up a new group of customers to us,” Peter Allen, general manager for General Security, told Security Systems News. The acquisition closed Nov. 3, 2016, he said.
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“We divested of our retail/consumer business as we are primarily focused on business-to-business relationships which involve larger scale integration and intelligence based monitoring and analytics,” Rick Rockwell, owner of NYMP, told SSN via email. PSB remains in the security industry with Unlimited Technology, a Pennsylvania-based integrator.
General Security has about 46,000 accounts now, and monitors about 53,000 additional wholesale accounts in its central station.
“It was a very good mix of residential and commercial—had some city fire accounts. It was well scattered,” Allen said. NYMP’s base was about 60 percent residential and 40 percent commercial, he said.
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Allen said that the company is currently maintaining the NYMP brand, but may change the name in the future. New York Merchants Protective Co. is an established name in the Manhattan area, Allen said, noting that the company was founded in 1910.
The company brought on 10 employees from NYMP, including salespeople, technicians and administrative employees.
