Tri-Ed and Northern Video purchased by private equity firm
The acquisitions are being made from Brazos Equity Fund III, which closed in September 2008 with capital commitments totaling more than $700 million.
Randall Fojtasek, Co-Founding Partner of Brazos, said: “These transactions represent an opportunity to create a leading distribution company serving the large and growing North American electronic security market. Tri-Ed and Northern are already well-established leaders in their niches, and we look forward to working closely with the management team of the combined company as they build upon each unit’s respective strengths to deliver additional value for customers, employees, suppliers and other stakeholders.”
The combination of Northern, based in Rocklin, California, and Tri-Ed, based in Woodbury, New York, brings together two of the largest entities in security distribution with a combined 41 sales offices and the most comprehensive offering of Intrusion, Video, Access, Fire and Sound and Communications solutions anywhere in the U.S. and Canada. Security dealers will have the benefit of a highly efficient, economical and customer-focused delivery system.
“We firmly believe that this new entity will provide a more significant distribution solution for the security industry,” Roth said. “The synergies and scale of the Tri-Ed and Northern combination are substantial, and together they will provide an ever-increasing value proposition to our customers and suppliers.”
Mark Haney, President and CEO of Northern, said, “Not only will this combination better support our dealers’ needs today, but also assist with their growth into new product areas and technologies long into the future.”
Tri-Ed and Northern will retain their organizational identity, company locations and executive leadership. The senior management at both organizations will assume leadership roles as well as equity positions in the new entity. Steve Roth will assume the role of chief executive officer, Mark Haney will serve as president, Pat Comunale as chief operating officer, Paul Haney as executive vice-president, and Brian James and James Rothstein as senior vice-presidents.