Business
An unarmed security guard services business focused on serving manufacturing, distribution, retail, embassy and commercial office clients.
Transaction
We sourced the deal through a fundless sponsor who recognized our industry expertise and experience with buy-and-build transactions. We purchased three small regional security guard businesses simultaneously and created a headquarters in Raleigh, NC around a new senior leadership team.
Opportunity
The security guard industry is highly fragmented with many smaller operators seeking to exit due to age/retirement. We saw an opportunity to execute a series of tuck-in acquisitions at low purchase multiples and grow into a multi-regional player with ~$100 million in revenue. At that size, we were confident there would be significant interest in the asset from strategic buyers due to scarcity value and due to our focus on higher margin industrial contracts. The formation of the platform brought together three targets with long-standing customer relationships and contracts, and a focus on excellent customer service under a new CEO that had successfully orchestrated acquisition strategies in the space in the past.
Growth Strategy
We leveraged our industry knowledge and proprietary sourcing capabilities to execute a buy-and-build strategy, purchasing 21 businesses over our hold period. In addition, we implemented centralized technology, processes and systems under the UAS banner. Finally, to accelerate organic growth, we implemented a revised go-to-market strategy and invested in a sales force, which yielded increased organic growth while the Company was able to minimize contract losses with a focus on customer service.
The Company grew sales and EBITDA during our hold period by over 5x while we institutionalized the business to be ready for the next buyer. We sold UAS to a large strategic buyer in Q1 2018.
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Deal Snapshot
Buy and build growth strategy
Developed leadership team to scale business
Sales and EBITDA increased 5x over investment period
Formed April 2010, Exited March 2018
www.unitedamericansecurity.com
“LaSalle Capital showed trust and confidence in our management team at UAS and provided us the support necessary to execute our plan and create substantial value in a short period of time. We could not have accomplished what we did without their highly supportive strategic guidance.”
Stephen Levine
President, United American Security |
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