Davis Marketing Group Assists I.A.S.G. in the Sale of Accounts in Colorado, Utah and Idaho
Long Grove, IL, July 17, 2006 — In a move that caught many industry experts by surprise, I.A.S.G. recently announced the sale of a portfolio of accounts located in Colorado (the former alarm company in Aspen, Apex Security) to a group headed by Rod Garner, President of Mountain Alarm.
In a press release dated June 28, 2006 , I.A.S.G. announced the sale of assets to Mountain Acquisition Company, LLC, for a total consideration of 7.3 million. Included in the assets sold are alarm contracts in Colorado , Utah and Idaho, with recurring monthly revenue of $212,000 and other assets of approximately $224,000. The purchase price for the alarm contract assets were 7.1 million, representing a RMR purchase multiple of 34.7.
Ron Davis, Managing Partner of Davis Marketing Group, represented I.A.S.G. in identifying the potential buyer, negotiating the terms and bringing those negotiations to a successful conclusion.
The group purchasing the accounts is headed by Rod Garner, who is also President of Mountain Alarm. In commenting on the acquisition Garner stated that ”It was a good deal for both parties. It expands our presence in the southwest and allows I.A.S.G. to concentrate in areas where they have greater activity.”
Commenting on the transaction for I.A.S.G. was its CEO, Charles (Chick) May, “Just a note to say how much I appreciated your help and hard work. This is a good deal for us and I believe it will be for Rod also. This is really one of those win-wins!”
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For further information contact:
Davis Marketing Group
Phone: (847) 955-2345