WESTPORT, Conn., Jan. 7, 2022 /PRNewswire/ — Gemspring Capital Management LLC (“Gemspring”), a middle-market private equity firm, is pleased to announce that an affiliate has acquired a majority interest in Security 101 (the “Company”), a provider of commercial security system solutions.
Security 101 delivers a full-service offering of security services and products including the design, installation, and maintenance of integrated access control, video surveillance, intrusion detection, visitor management, and managed service solutions. The Company’s culture of innovation and accountability drives bespoke security and software solutions for the market-specific security challenges faced by its diverse set of national and regional customers. Since its founding in 2007, Security 101 has grown into a national player with over 50 locations across the U.S.
Security 101’s management team, led by Founder and CEO Steve Crespo, will continue to lead the business and be significant shareholders in the Company. Steve commented: “We are excited to partner with Gemspring during this next phase of growth and look forward to collaboratively pursuing the tremendous market opportunity ahead of us. This partnership puts Security 101 in a position to rapidly expand our footprint while continuing to provide national and local customers the security industry’s finest customer service through our proven approach.”
“Steve and his team have built a high-quality organization, evidenced by its reputation in the market for providing stellar service to its customers”, said Alex Shakibnia, Managing Director at Gemspring. “We believe the commercial security integration market is poised for significant growth as customers increasingly look to strategic thought partners like Security 101 to manage the evolving security challenges and the convergence of physical and cybersecurity. We look forward to working with Steve and the entire Security 101 team to expand Security 101’s client base, service and technology offerings, and geographic footprint.”
About Security 101
Security 101 is a franchisor and self-perform provider of integrated security solutions to a diversified set of commercial customers across multiple end markets, including healthcare, education, financial, and government, among others. The Company delivers a full-service offering of security services and products including the design, installation, and maintenance of access control, video surveillance, intrusion detection, visitor management, and managed service solutions. Founded in 2007 and based in West Palm Beach, FL, Security 101 has ~200 employees across over 50 locations in the U.S. For more information, visit www.security101.com.
About Gemspring Capital
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.5 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial and insurance services, healthcare services, industrial services, software and tech-enabled services, or specialty manufacturing sectors. For more information, visit www.gemspring.com.
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SOURCE Gemspring Capital