SALE OF KASTLE SYSTEMS TO ENTREPRENEUR-INVESTOR MARK EIN PROVIDES CONTINUITY
AND GROWTH FOR SECURITY SYSTEMS LEADER
WASHINGTON – January 17, 2007 - Kastle Systems
International LLC, the established leader in building and office security
systems, has been sold to Mark Ein, an experienced venture capitalist and
entrepreneur, who is making a long-term commitment to investment in the growth
of the security systems leader and to the expansion of Kastle’s client base in
the United States and abroad.
Kastle, with over 475 employees,
secures, from its offsite operations centers, more than 1,800 properties
encompassing 316 million square feet of office space in the United States and
Australia. Kastle, headquarted in the Washington, D.C. area, also serves its
clients through regional offices in New York, Los Angeles, Houston, Dallas,
Philadelphia, Chicago, and Sydney, Australia.
A. Gene Samburg, founder and chief
executive officer of Kastle, who will continue to head the company, said:
“Kastle is a pioneer in electronic security systems that provide vital and
unparalleled services to our clients. By completing this transaction with Mark
Ein, who has a strong track record of growing successful and innovative
companies, Kastle will provide new products and higher levels of service to our
existing clients and to new clients in new markets. Mark adds capital, energy,
experience, and a dedication to Kastle’s long-term growth.”
Mark Ein, who is also the founder
and chief executive officer of Venturehouse Holdings, LLC said: “Over the last
34 years, Kastle has grown steadily and profitably, with sales growing at a
compounded annual rate of 20.1% over its lifetime, to become one of the
pre-eminent building security systems providers in the United States. With
security concerns fueling increased demand for expert security services, we look
forward to Kastle growing and expanding to meet our clients’ urgent needs not
only in the United States but also internationally.”
“Gene and I have told Kastle’s
employees exactly what the plan is going forward: greater growth in the company,
more investment in domestic and foreign markets, and continuity in Kastle’s
leadership and service for our private sector and government clients.”
The terms of the transaction will
remain confidential.
Kastle Systems, founded in 1972 by
A. Gene Samburg, is the only national company that operates and manages its
clients’ security systems for them on an ongoing basis. Kastle’s innovations
include: the ability for a client’s traveling employees to use a single card to
access both offices and buildings in multiple cities; simplified and expedited
visitor processing; and security via a low-cost, high speed Internet connection
to Kastle’s offsite operations centers. For more information about Kastle
Systems, visit www.kastle.com.
Mark Ein is the founder and chief
executive officer of Venturehouse Holdings, LLC, a holding company that creates,
invests in, grows and builds technology and telecommunications companies in
partnership with management. Venturehouse’s prior investments include the
initial seed investment in Matrics Technology, the lead investment in the
acquisitions of Cibernet Corporation and VSGi and an early investment in XM
Satellite Radio. Prior to forming Venturehouse, he was a principal with The
Carlyle Group and an associate with Goldman Sachs and Brentwood Associates. Mr.
Ein is a graduate of University of Pennsylvania’s Wharton School and received
his MBA from Harvard Business School. A native of Washington, D.C., Mr. Ein is a
native of the Washington D.C. area and is deeply committed to the region,
supporting many charitable and community organizations.
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