Kastle Systems buys two security system businesses from ADT
- November 27, 2013
Falls Church-based Kastle Systems International, a major provider of managed security solutions, has acquired Mutual Central Alarm
Services and Stat-Land Security Systems from The ADT Corp.
Under the deal, Kastle Systems will add nearly 4,000 customer sites in New York City.
Kastle Systems said Mutual and Stat-Land’s financial service clients, including upscale jewelers and other marquee retailers, will benefit from Kastle’s
products and services, including advanced monitored video solutions.
Mark Ein, the chairman of Kastle Systems, described the deal as a great fit, adding that New York City is a top priority market for the company.
Debt financing for the deal was providindg by Kastle’s existing lenders, including Capitalsource Bank and Capital One, N.A.
Terms of the deal were not disclosed.
Kastle, in operation for more than 40 years, protects more than 2,000 properties with 37,000 tenant spaces and 400 million square feet of office space nationwide and overseas.
In addition to its headquarters in Falls Church, the company has offices in Los Angeles, San Francisco, Dallas, Houston, Chicago, Atlanta, New York, Philadelphia and Sydney, Australia.
The ADT Corp. is based in Boca Raton, Fla.