Vector Security® acquires Industry Retail Group


Vector Security® acquires Industry Retail Group

Cogent helps Vector acquire IRG to furnish the base for genuine business visibility through a single-source partner.

PITTSBURGH, Aug. 20, 2013 -- Cogent Growth Partners, LLC (Cogent) announced today that they advised Vector Security, Inc., a Top 10 integrator of physical security solutions for North American retailers and multi-site businesses, on its recently announced acquisition of Industry Retail Group, Inc. (IRG) to accelerate the Company's move into the complete managed infrastructure and business intelligence space. The acquisition of IRG provides the platform for business intelligence offerings and the expansion of services that provide turnkey solutions for retailers and multisite businesses. Vector Security President and CEO Pam Petrow will assume leadership responsibility over IRG and Vector Security.

“When Vector Security contacted us they were focused on expanding their ability to offer managed network services to their existing national account base and attract new customers.  We helped them define their acquisition strategy, profile suitable companies and then uncover fitting candidates; and IRG stood out amongst them all,” says Rick Murphy, Managing Partner of Cogent. “We worked closely with the Company’s Leadership team to negotiate the transaction from inception through to closing, and we were integral to the due diligence process and integration planning as well. It was quite a team effort.”

“Cogent was helpful in educating us on the MNS space and the opportunities that were available.” says Petrow. "Today’s retail and multisite customers want broader insight and intelligence into their operations at all levels. This acquisition is the catalyst for us to define that new market segment and positions us to support the physical security and broadband infrastructure needs of our customers today and into the future."  

IRG is a Gartner-recognized provider of customized managed network services and an industry leader whose operational excellence has consistently outpaced industry standards. IRG currently addresses the growing needs of thousands of Fortune 1000 retailer sites, quick-serve restaurants and convenience store chains through the design, provisioning, logistics and deployment of networks.

"Cogent and its team were a good partner during this process and they were a tremendous asset as it relates to the eventual acquisition," says Mike Luzio, CEO of IRG. "Together with Vector Security we have the opportunity to offer customers a modular platform that simplifies the management of their infrastructure and gives them actionable, real-time intelligence that is second to none. We look forward to proactively addressing our customers' unique needs for managed services and security."

“We strive to put solid businesses together that can benefit from each other’s strengths and readily leverage combined service offerings and economies of scale, while simultaneously enhancing customer satisfaction,” stated David Schafran, a Managing Partner at Cogent. “This transaction is a terrific example of how two companies can come together to everyone’s advantage.”

 

About Cogent

Cogent Growth Partners (www.cogentgrowthpartners.com) is a buy-side merger & acquisition advisory firm that combines IT industry-specific transaction know-how with deep operational expertise, to work exclusively with clients in the IT and Managed Services industry.  Cogent helps create superior companies that deliver exceptional financial results and improved equity value for the owners – all while mitigating many of the risks associated with planning and executing acquisition or exit strategies. For more information visit

About Vector Security

For more than 40 years, Vector Security, Inc. (www.vectorsecurity.com) has been a premier provider of intelligent security solutions tailored to the needs of the customer. Headquartered in Pittsburgh, the company offers a full suite of electronic security services for residential, business and national account customers across North America and the Caribbean through a network of branches and authorized dealers. Vector Security is a sister company of the Philadelphia Contributionship, a mutual insurance company founded in 1752, and currently provides cost-effective, technology-based security solutions to more than 270,000 homes and businesses.

About Industry Retail Group

Industry Retail Group, Inc. (IRG) (www.industryretail.com) established in 2004 and based in Bethesda, MD is a Gartner-recognized, and VISA PCI DSS validated, provider of customized managed network services, offering a comprehensive portfolio of broadband and broadband-centric services targeted to retailers and other multi-site companies. IRG is single-source purveyor of managed IP communication, application and turnkey professional services; plug-in IRG applications such as Hotspot and Enterprise Wi-Fi solutions, Mobility, Hosted VoIP, and IP-based Video Surveillance to further leverage customers' broadband investments. IRG's

Media Contact: David Schafran, Cogent Growth Partners, 978-566-9990 x 101 david@cogentmergers.com


Posted on Aug 20, 2013