Devcon Security
Installation, monitoring and related electronic security services for enterprises.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
| N/A | $40.0k | Seed | |
| Total Funding | 000k | ||
Devcon Security, established in 2004, provides installation and monitoring of electronic security systems for residential and commercial clients. The company's business model is centered on providing customized security solutions, including fire and safety systems, access control, video surveillance, and personal emergency response systems, generating revenue through installation fees and recurring monitoring contracts.
Initially a construction and concrete services firm, Devcon International Corp. pivoted to the electronic security market in 2005 with the acquisitions of Adelphia's security business, Guardian International, and Coastal Security Co. This strategic shift positioned the company as a significant security provider, primarily in Florida and the New York metropolitan area. The business model notably includes servicing large homeowner associations, where the association manages payments for security systems in every home within a community, ensuring low attrition rates. By 2009, Golden Gate Capital, a private equity firm, acquired Devcon International Corp., aiming to expand its market presence. The company continued to grow, and in 2013, ADT acquired Devcon Security from Golden Gate Capital for approximately $148.5 million, absorbing its 117,000 customer accounts.
Devcon Security's offerings include comprehensive security solutions tailored to individual customer needs. Core services encompass the installation of hard-wired and cellular-based alarm systems, 24/7 professional monitoring from UL-certified central stations, and integrated video solutions. Clients benefit from features like remote system management via web and mobile applications, which allow for checking on premises and receiving email or text alerts. The company also provides home automation services, enabling users to manage lights, door locks, and view video feeds remotely. Its services cater to a diverse client base, from individual homeowners to small and medium-sized businesses and large-scale commercial clients in sectors like banking and high-end retail.
Keywords: electronic security, security system installation, alarm monitoring, residential security, commercial security, home automation, video surveillance, access control, fire safety systems, security services, personal emergency response, homeowners' association security, business security solutions, remote security management, cellular security systems