PE-backed Protos acquires SRI

Protos Security, which is backed by Southfield Capital, has acquired Security Resources, a managed security services and direct guard solutions provider. No financial terms were disclosed. Monroe Capital LLC provided debt financing for the transaction while Pepper Hamilton LLP provided legal counsel to Southfield Capital.

PRESS RELEASE

GREENWICH, Conn., Aug. 27, 2019 /PRNewswire/ — Southfield Capital, a premier lower middle market private equity firm, announced today that Protos Security (“Protos”), a tech-enabled managed security services provider, has completed its strategic acquisition of Security Resources (“SRI” or the “Company”), a leading US-based managed security services and direct guard solutions provider. The Company’s co-founders, Joseph Malone and Bob Bond, will remain in their existing leadership roles post-close.

SRI provides security guard and related solutions through its managed services platform and its in-house manned guard division. The Company utilizes a combination of its internally managed guards and its vast network of security guard companies to allow clients to outsource the administrative burden associated with onboarding, managing and tracking thousands of guards working across hundreds of locations. Headquartered in Cherry Hill, NJ, SRI manages hundreds of client sites on behalf of a blue-chip customer base.

“Southfield’s vision to create an industry leading security services firm committed to delivering extraordinary services to our clients matched perfectly with our philosophy,” stated SRI co-founders Joseph Malone and Bob Bond. “We are very excited to be merging with Protos and look forward to sharing best practices while enhancing our service offering for all of our clients.”

“Over the last 20+ years, SRI has blossomed into one of the leading names in the security services space and they have built a highly respected business with a great client roster,” said Andy Cook, Partner at Southfield Capital. “We believe that combining SRI with Protos’ industry leading technology will enable us to deepen client relationships and provide a broader array of comprehensive security and loss prevention solutions.”

Monroe Capital LLC provided debt financing. Pepper Hamilton LLP provided legal counsel to Southfield Capital.

Southfield acquired Protos in February of this year.

About Southfield Capital
Southfield Capital is a private equity firm that invests in high-growth, lower middle market companies in the outsourced business services sector. The firm targets companies with $4 – 12 million in EBITDA and partners with management to scale the business through a combination of organic and acquisition growth strategies. For more information, please visit www.southfieldcapital.com.