ST. LOUIS, June 16, 2017 – AlarmForce Industries (“AlarmForce”) (TSE:AF) announced an agreement to sell its U.S. subscribers to Lancaster, PA headquartered Select Security. Total consideration for the transaction is US$11.6 million.
Graham Badun, CEO of AlarmForce said, “I believe that this is a great outcome for all involved as it moves these subscribers to a company who is well positioned to invest to grow that network in the many markets in which they operate. For the balance of our Canadian operations, this change allows us to focus our growth efforts in Canada where our brand is incredibly well recognized.”
The Edmonds Group served as financial adviser and Buchanan Ingersoll and Rooney served as legal advisor to AlarmForce. “The Edmonds Group was instrumental in helping us manage all aspects of the transaction,” said Badun “and Buchanan’s deep industry legal expertise was of great value.”
About AlarmForce Industries Inc.
AlarmForce provides security alarm monitoring, personal emergency response monitoring, video surveillance and related services to residential and commercial subscribers throughout Canada. More information on the company’s products and services can be found at www.alarmforce.com.
About Select Security
Headquartered in Lancaster PA, award winning Select Security is setting a higher standard for reliable security and outstanding customer service. Select Security provides home and business security, fire systems, home automation, video monitoring and access control. For more information see www.selectsecurity.com.
About The Edmonds Group, LLC
The Edmonds Group is a specialized investment bank focused on recurring revenue businesses with a particular emphasis on the security alarm industry, the PERS industry, and related verticals. The Edmonds Group has closed over 55 transactions representing more than $3.5 billion in transaction value since its inception in 2004. For more information on The Edmonds Group, visit www.theedmondsgroup.com.
About Buchanan Ingersoll and Rooney PC
A nationally recognized firm, with more than 500 attorneys and government relations professionals in 17 offices, we provide a wide range of services in the areas of health care, financial services and banking, litigation, intellectual property, labor and employment, real estate, corporate and business law, tax, energy and government relations. Our security alarm group represents lenders, equity sponsors and security companies. To learn more visit www.bipc.com..