Kastle Systems Significantly Expands in New York City by Adding Nearly 4,000 Customer Sites with the Acquisition of Mutual Central and Stat-Land from ADT
Mutual and Stat-Land to become a wholly-owned subsidiary of Kastle Systems, providing a full suite of managed security services—including Manhattan-based, UL-listed security and FDNY-approved monitoring facility—along with market specialization for high-end retail, jewelry and financial services
Falls Church, Va. – November 22, 2013 – Kastle Systems International, the leading provider of managed security solutions, today announced that it has acquired Mutual Central Alarm Services and Stat-Land Security Systems from The ADT Corporation. Mutual and Stat-Land’s financial service clients, upscale jewelers, and marquee retail brands will benefit from Kastle’s broader suite of products and services, including advanced monitored video solutions, and also greater geographic coverage to support their security needs nationwide. Building on its existing IP-centric infrastructure, the acquisition expands Kastle’s presence and expert resources in the greater New York metropolitan area, by adding a UL listed, CSAA (Central Station Alarm Association) Five Diamond-certified central station in Midtown Manhattan and a deeply-experienced team with a 40 year successful operating history as one of a select few specialists in protecting high-end customers.
“We are thrilled to bring Mutual and Stat-Land into the Kastle family and to significantly grow our business in New York City, which is a top priority market for us. Our customer bases, product offerings and geographic coverage are extremely complementary which will provide significant growth opportunities going forward,” said Mark Ein, Chairman, Kastle Systems. “Above all, this is a great fit–as Kastle and Mutual and Stat-Land share a culture, passion and reputation for providing the highest levels of service for clients with sophisticated security needs.”
“This is a great opportunity for our business, our employees and for our clients,” said Joel Cohen, President, Mutual. “By joining Kastle, we are part of an organization with a long-term perspective that will enable us to offer the same premium customer experience, and also introduce new innovative offerings that I know our clients will want.”
The debt financing for the acquisition was provided by Kastle’s existing lenders, CapitalSource Bank and Capital One, N.A. As a privately held entity, specific financial terms of the acquisition are undisclosed.
About Kastle Systems International
Kastle Systems has been leading the industry for more than 40 years with new technologies and advanced security solutions. Kastle operates and manages security systems for its clients remotely, around-the-clock. Currently, Kastle protects more than 2,000 properties with over 37,000 tenant spaces, for a total of 400 million square feet of office space, nationwide and internationally. Over 2 million people use Kastle Systems Access Control daily. Kastle Systems’ innovative, outsourced security services significantly reduce costs and improve the critically important, 24/7 performance of security systems–for building owners, developers, and tenants. Headquartered in Falls Church, Virginia, Kastle Systems is present in Los Angeles, San Francisco, Dallas, Houston, Chicago, Atlanta, New York, Philadelphia, and Sydney, Australia.
To learn more about Kastle’s security solutions, visit the Kastle website or call 855-KASTLE-1(527-8531).
About Mutual and Stat-Land
Mutual and Stat-Land is one of New York City’s oldest and most respected names in high-value commercial security. Over the past 15 years, Mutual Central Alarm Services and Stat-Land Security Systems have together steadily risen to become one of New York City’s leading providers of security solutions, serving the high-end commercial alarm monitoring market. Founded in 1989 and 1967, respectively, the two businesses operated independently until they came under common ownership in 1998. They offer premium commercial intrusion, fire, video, and access control systems to a marquee list of upscale jewelry, retail, financial, and other high-profile customers.
The ADT Corporation (NYSE: ADT) is a leading provider of electronic security, interactive home and business automation and monitoring services for residences and small businesses in the United States and Canada. ADT’s broad and pioneering set of products and services, including ADT Pulse interactive home and business solutions, and home health services, meet a range of customer needs for today’s active and increasingly mobile lifestyles. Headquartered in Boca Raton, Florida, ADT helps provide peace of mind to more than six million customers, and it employs approximately 17,000 people at 200 locations. More information is available at ADT.