LaSalle Capital Group and Expedition Capital Partners have partnered to acquire three security guard services businesses: Industrial Security Services Inc. (Cleveland), Leonard Security Services (Virginia Beach) and Eagle Security Inc. (Portsmouth, Va). The three companies will be rolled into a new buy-and-build platform called United American Security, which will be run by former Employer’s Security Co. CEO Steve Frost. No financial terms were disclosed.
LaSalle Capital Group, L.P. (“LaSalle Capital”) is pleased to announce that it has formed United American Security, LLC along with Expedition Capital Partners LLC (“ECP”), through the acquisition of three security guard services businesses and has backed long-time industry veteran, Steve Frost, to execute a buy-and-build strategy in the security guard services industry.
United American Security was formed through the simultaneous acquisitions of Industrial Security Services, Inc. based in Cleveland, OH; Leonard Security Services, Inc. based in Virginia Beach, VA; and Eagle Security Inc. based in Portsmouth, VA. Each company brings experienced management and a long history of successfully operating and growing businesses focused on serving a variety of manufacturing, distribution and commercial office clients.
Steve Frost, a 40-year veteran of the industry, most notably serving as Chief Executive Officer of Employer’s Security Company in Knoxville, TN and Chief Financial Officer of Security Services of America in Morehead City, NC, commented “I am very excited to bring these three businesses together onto one operating platform. We have a group of highly experienced operators who will benefit from the combination and sharing of best practices to create one integrated organization. This experience coupled with the financial resources of LaSalle Capital positions us extremely well to create a leading security guard business with American roots. I look forward to aggressively growing our newly united business over the coming years.”
Jeff Walters, co-founder of LaSalle Capital, noted “These companies’ outstanding reputation for superior service and capabilities combined with Steve’s experience provides for a strong platform and growth opportunity. We are excited to work with Steve and the entire UAS management team to build a leading industrial and commercial security services business.”
If you have questions regarding this acquisition or would like to discuss other opportunities in the security guard services industry, please contact Nick Christopher or Jeff Walters of LaSalle Capital at (312) 236-7041.
About LaSalle Capital Group:
Founded in 1984, LaSalle Capital Group (“LaSalle Capital”) is a private equity firm making control equity investments in leveraged buyout and recapitalization transactions in the United States. The Principals of LaSalle Capital collectively have over 60 years of private equity investment experience and are currently investing a $127 million committed fund. LaSalle Capital pursues investments primarily in the food and beverage and outsourced business services sectors and adds value to companies by providing strategic operating focus and promoting rapid appreciation through organic growth and acquisitions. For more information about our investments and our team please visit www.lasallecapitalgroup.com.
About Expedition Capital Partners:
Expedition Capital Partners (“ECP”) is a fundless sponsor private equity firm that focuses on leveraged buyouts in the lower middle-market. The firm was founded in 2009 by three investment professionals who collectively hold more than 25 years of private equity and investment banking experience. The Principals of ECP believe the firm is uniquely positioned to capitalize on the attractive investment dynamics of today’s lower middle market and seek investments across a wide range of sectors including business services, software, manufacturing, infrastructure, distribution and healthcare. For more information about this investment and the ECP team please visit www.expedition-partners.com.