Trident Fire & Security, based here, recently merged with Secure Source, a security alarm company based in Denver.
Alarm Financial Services provided financing for the transaction, terms of which were not disclosed. A new loan facility includes a five-year term loan and a line of credit for Trident, allowing for further expansion into the Denver Metro area, with targeted growth in the commercial security sector.
Since 1988, Steven Wasik, founder of Secure Source, has delivered customized security solutions in the residential, commercial and governmental sectors throughout the greater Denver area. Looking toward the future, Wasik sought to place his customers with an established security provider and Trident Fire & Security was a good match, he comments.
“We were seeking a company who was familiar with our technology and put their customers’ needs first. It was evident from the start that Trident has built a culture around this philosophy,” Wasik says. “Brandon [Evans] and his team have the expertise and resources to do just that, and we are pleased to be working with them.”
Wasik continues, “AFS and their staff were very professional and knowledgeable throughout the process and made the transition seamless.”
Trident Fire & Security has been providing residential and commercial security and life-safety protection to the Colorado Front Range for almost 35 years. For Evans, president of Trident, moving forward with Secure Source wasn’t a difficult decision.
“Steve’s knowledge and expertise are evident. You can tell he cares a lot about his customers and has worked hard for them over the years. His customer base of primarily small local businesses is very similar to ours,” he says.
Evans also praised AFS’ guidance throughout the acquisition process. “In addition to obtaining financing and due diligence assistance essential for the transaction, we leveraged AFS’ advice and experience to come up with procedures that will help for a stable merger, which translates to more value for us.”
AFS provides financing from $150,000 to $1.5 million to small and medium-sized security, fire alarm and personal emergency response system (PERS) companies.
“We are very excited that our financing has helped bring together these two high-quality well-run security providers,” says Jim Wooster Jr., president of AFS. “In addition, Trident now has access to additional capital to continue its long-term growth plans.”