PITTSBURGH – June 5, 2019 – Buchanan Ingersoll & Rooney advised Pittsburgh-based Elmhurst Corporation on the sale of ADS Security, headquartered in Nashville, Tenn., the 23rd largest electronic security alarm firm in the nation. The transaction officially closed on June 3, 2019.
According to Vector, the combined companies will establish a broader, deeper presence in the U.S. and will have collective recurring monthly revenue of close to $20 million and a customer base of nearly 400,000 subscribers.
“We are grateful to Buchanan’s team of attorneys for their deep knowledge of the security alarm industry as well as their guidance and advice during the course of this transaction,” said Bill Hunt, president of Elmhurst Corporation.
Robert Jones II, shareholder in the corporate section, and Hugh Van der Veer, shareholder, co-chair of the finance section and co-founder of the firm’s security alarm group, led the transaction on behalf of Elmhurst Corporation.
Buchanan’s multi-faceted security alarm practice serves dozens of alarm industry clients, counseling alarm companies and other clients in acquisitions, dispositions, financings, joint ventures, tax planning, state and local licensing, litigation, employment law, non-compete enforcement, customer contracts and other matters.