Floyd Total Security Acquired by Per Mar Security
Per Mar's Largest Acquisition to Date
December 1, 2020, Long Grove, IL — Per Mar Security Services of Davenport, Iowa announced the acquisition of Floyd Total Security, of Bloomington, Minnesota. Floyd is a 75-year-old mainstay of the Twin Cities, Minnesota area. Michael Karch, son of the founder, has managed the company for the last 40 some years. He has turned it into somewhat of a powerhouse in the upper Midwest. With operations spread throughout Minnesota, Iowa, Wisconsin and the Dakotas, it has operated within the same footprint established by Per Mar. Both companies are managed effectively by second-generation owners and, in the case of Per Mar, by one of the children of the owner, Brian Duffy, an established operator in his own right.
Both owners knew each other and admired the management skills and financial acumen of each other. As fate would have it, there was a third friend of both, who interviewed Michael Karch for an article for one of the trade publications. Ron Davis, founder of Davis Mergers and Acquisitions Group, a security industry business broker, during the interview he commented about how time seemed to be racing by, which triggered a conversation between Ron and Michael that led to a meeting between Michael Karch and Michael Duffy, respectively CEOs of Floyd and Per Mar. Their conversation led to a meeting of the minds, and pretty soon an offer was made by Duffy, then accepted by Karch.
It was a meeting destined to have an impact on the industry. Two giants merging into one large company. Bringing the two companies together was the team at DMAG, the broker, and in one of the fastest start to finish time frames any of the parties have experienced, terms were agreed upon, due diligence was completed, and the sale was concluded.
Per Mar, the buyer, intends to acquire Floyd's building as part of the acquisition. The facility houses over 80 employees who will assist Per Mar in consolidating operations. All current employees and executives of Floyd have been offered employment with Per Mar.
Davis Mergers & Acquisitions Group represented the sellers, Floyd, in this transaction.
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About Davis Mergers & Acquisitions Group
Davis Mergers and Acquisitions Group (DMAG) a full-service team that works exclusiely in the Security and Integration industries. For further information, contact Ron Davis by calling 847-955-2345, email firstname.lastname@example.org, or visit: www.graybeardsrus.com.
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Davis Mergers & Acquisition Group
The Davis Mergers & Acquisitions team, DMAG, aka the Graybeards, were proud to have represented Deterrent in their sale to ADT Commercial. David & Carol Hersh spent 40 years building a full service security integration business and a blue chip client base that will be a great addition to the ADT Commercial business. Our congratulations to all involved in an excellent outcome.