Issue link: https://read.dmtmag.com/i/40004
32 RESIDENTIAL SYSTEMS www.securitysystemsnews.com SEPTEMBER 2011 SECURITY SYSTEMS NEWS RESIDENTIAL SYSTEMS Devcon secures $215m credit facility By Tess Nacelewicz HOLLYWOOD, Fla.—Devcon Security, a super-regional that has rapidly expanded into a national player in the past year, in July announced a new $215 million credit facility that includes $110 million in new financing. The new facility more than doubles what was available to the company previously. "We're ecstatic," Robert Farenhem, pres- ident and CEO of Devcon, which is based here, told Security Systems News. "This is a fairly substantial increase in availability over where we've been, and it has been designed in order to allow us to execute our growth strategy without worrying about senior bank debt limita- tions for the next couple years," he con- tinued. "It's a huge shot in the arm for us, and also very encouraging that we have support from truly great partners on the senior debt side." The financing was led by CapitalSource Finance, according to Devcon. Farenhem told SSN it replaces a $105 million facility Devcon previously had with CapitalSource. CapitalSource director Will Schmidt told SSN that three other lenders also were involved: The PrivateBank, Bank of America and CIT. All three are new lend- ers to Devcon, Schmidt said. "We found a lot of interest among the capital providers to the industry because it's a very strong performing company with a well-thought-out, exciting growth plan," he said. "We believe there's additional capacity to grow the facility [as Devcon grows]." San Francisco-based Golden Gate Capi- tal acquired Devcon in 2009. Since then the company has expanded from nine branches primarily in Florida and New York to more than 50 branches nationwide. Doug Bayerd, Golden Gate VP, said in a statement: "We remain excited by the long term prospects of the business." Devcon has two central stations, one here and one in New York City, and 140,000 accounts. It had 450 employees last October and now has 785. Devcon in June also DEVCON see page 34 'Extreme Temps' helps keep customers 'sticky' By Tess Nacelewicz VIENNA, Va.—Alarm.com this sum- mer announced the release of its new "Extreme Temps" feature, the most recent addition to its emPower energy management home automation platform. The feature can automatically adjust a home's thermostat on days with espe- cially high or low outdoor tempera- tures, enabling consumers to operate their heating and cooling systems more efficiently and save money, according to the July 11 announcement by Alarm. com, a provider of interactive security systems, which is based here. If a number of people in a com- munity use the Extreme Temps ser- vice, it also could reduce the overall consumption of energy on extreme temperature days, lessening the like- lihood of rolling blackouts and power outages, said Jay Kenny, Alarm.com's VP of marketing. The new feature, which Alarm.com authorized dealers will be offering as a free upgrade to customers using emPower and to new subscribers, can help increase RMR by keep customers "sticky," Kenny told Security Systems News. He said the feature, which he believes is the first such offering connected to a security panel, will cause customers to engage more with their system and value it more. "People are willing to pay for what they value," he added. Extreme Temps is part of a broader effort by Alarm.com to look beyond the home for security needs, Kenny told SSN. "Most of what goes on today is about protecting the home and monitor- ing what goes on in the home to keep people secure and aware," he told SSN. "We've started to extend that and look at external conditions…that could potentially impact the home." For example, he said, Alarm.com in June announced the launch of its Severe Weather Alerts feature, which tracks warnings issued by the National Weather Service and provides real-time alerts to customers of severe weather alerts near their homes or businesses. Now, with Extreme Temps, custom- ers can automatically set the target tem- perature of their thermostats based on the forecasted weather in the area. SSN Platinum consolidates ownership Founders buy out investor By Tess Nacelewicz AMERICAN FORK, Utah—The four main founders of Platinum Protec- tion, one of the major Utah-based summer-model companies, now own 100 percent of the company after recently buying out an investor, according to CEO Andrew Kindfuller. The founders' complete control over Platinum, a five-year-old com- pany based here, will ensure its con- tinued growth, Kindfuller said. "It's very positive and they're quite pleased," he said of the development. Platinum announced July 20 that the Jacobson family sold its own- ership interest in Platinum to the company's four remaining found- ers: Chance Allred, Jared Hallows, Keith Dyer and Jacob Pruitt. Last summer, the Jacobson family bought a 17-percent ownership stake in the company to help resolve a dispute with one of the six original founders. Wendell Jacobson, formerly chairman of Platinum's Board of Managers has stepped down from PLATINUM see page 33 Pro 1 combines cyber, security Goal: Owning more mindshare and a stickier customer By Tess Nacelewicz ROMEOVILLE, Ill.—Protection 1, one of the nation's largest home security companies, announced in July that it has partnered with LifeLock, an identity theft protection pro- vider, to help Protection 1's customers pro- tect their identities as well as their homes. Protection 1, which serves more than 1 million customers and is based here, is packaging the LifeLock service as part of its HomeCore security solution for new cus- tomers. The service will cover one adult, but customers can add additional family members at a discount, said Protection 1 chief marketing & customer experience officer Jamie Haenggi. The LifeLock service will be an add-on for Existing HomeCore customers, she said. Why is a company that specializes in physical security adding a cyber-security feature to its offering? "At Protection 1, we understand the digital age that we live in," Haenggi said PRO 1 see page 33 BRIEFS ESA provides new website for consumers IRVING, Texas—Installing an alarm system can seem like a complicated task—what features do you need, how much does it cost and which company should you use? The Electronic Security Association says its new website for consumers, alarm.org, will answer those questions and more. The ESA says the newly designed website offers visitors an easy way to find an ESA member company in their neighborhood simply by typing in a zip code. There are also resources for learning about new lifestyle-enhancing technologies and videos featuring fire and law enforcement officials who give valuable advice. CSAA webinar: 'From Satisfied to Delighted: Raising the bar on customer loyalty' VIENNA, Va.—The Central Station Alarm Association recently announced a new webinar this fall specifically designed for alarm company owners, management, office staff, sales teams, and all employees. CSAA said the webinar, set for Tuesday, Oct. 26, from 2 p.m. to 3 p.m. EDT, is "an extremely energetic and interactive seminar conveying dynam- ic techniques on a host of customer issues specifically designed to light a fire of enthusiasm under everyone in attendance." This webinar will address how to raise the bar in terms of perceived "added value." Topics covered include the cost associated with losing just one cus- tomer, what are satisfied customers, defusing angry customers, and better ways to tell customers "No," when you can't say "Yes." For more information go to: https://www2.gotomeeting.com/ register/964286243 Pinnacle's 'Securing Hope' furthers mission locally OREM, Utah—Pinnacle Security, a residential security provider, on July 6 announced the successful comple- tion of another service project from its Securing Hope philanthropic initiative, which supports volunteerism oppor- tunities for its employees both nation- wide and around the world. Volunteers from Pinnacle's corporate offices prepared and served lunch at the Food & Care Coalition, a local orga- nization that assists those in need. "The mission of the Securing Hope initiative is parallel to our company mis- sion to provide security and peace of mind for our customers," said Stuart Dean, VP of corporate communications, in a statement.