Securadyne Systems, LLC Acquires Leading Systems Integrator, Intelligent Access Systems
Securadyne Systems, LLC (“Securadyne”) announced today that it has completed the acquisition of Intelligent Access Systems of North Carolina (“IAS”). The IAS acquisition is the fourth for Securadyne, which was founded in September 2011 by Carey Boethel in partnership with Pamlico Capital.
“We are extremely proud to be affiliated with Intelligent Access Systems,” explained Carey Boethel, President & CEO of Securadyne Systems. “Ron and his team have built a truly remarkable organization that consistently puts the customer first and focuses heavily on its core values of excellence, innovation, partnership and trust. Virtually everything about our two companies is synergistic, especially the cultures, which for us is by far the most important facet of the deal.” Boethel added.
IAS was founded in 2004 by industry veteran Ron Oetjen, who will join Securadyne’s senior leadership team. Since its inception, IAS has continuously grown and expanded its market-leading presence throughout the eastern US and today is widely regarded as one of the top systems integrators in the industry. The company operates in eight cities including Raleigh, Richmond, Pittsburgh, Canton, Atlanta, Tampa, Jacksonville, and Ft. Lauderdale.
Ron Oetjen, President of IAS, noted “We are obviously excited about the growth potential that comes with this combination. Securadyne’s strategy is complementary to our own and focuses on next generation enterprise-class solutions, including cloud architectures, which we feel positions us extremely well for long-term success. Additionally, Securadyne’s branch network will allow us to service our existing customers on a broader basis in markets where we do not currently have a presence.”
This acquisition brings Securadyne’s employee count to approximately 300 and annual revenues to $70M. Securadyne has a branch network of 16 locations and plans to organically enter at least two new markets this year. The company experienced 21% organic growth in 2013, excluding contribution from Advanced Control Concepts and IAS, which were acquired in August and December, respectively. Including acquisitions, Securadyne’s year-over-year growth was 106%.
Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: business & technology services, communications, and healthcare. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.