NEW YORK, Nov. 12, 2008 — Access Systems Integration, LLC (ASI), the New York region's leading electronic security integrator, was acquired by Michael Stapleton Associates (MSA), the nation's largest privately owned SAFETY Act Certified Detection Security Company, in a transaction arranged by MidCap Advisors, LLC.
MidCap Advisors, LLC (MidCap), a boutique investment bank, represented ASI and arranged the transaction. According to John Poppe, Jr., the partner at MidCap who served as the lead advisor on the transaction, "Despite the unprecedented turmoil in the capital markets, there were several companies interested in acquiring ASI. We are pleased that we were able to arrange a transaction that provided MSA with tremendous strategic opportunities and also delivered a premium value and attractive terms for our client."
Poppe continued, "When Messrs. Jim Hennessy, Ed Gleason and David Hickson started ASI seven years ago, their goal was to establish a premier security integrator operation. Today, ASI is one of the highest regarded integrators in the industry. With one of the ASI owners looking to retire and MidCap having worked with MSA on a prior engagement, our firm identified significant synergies between ASI and MSA. We believe the combined company provides the marketplace with a unique service offering."
Combined, MSA and ASI will continue to offer high-level perimeter security emphasizing protection against explosive devices, chemical and biological agents, and potential high-risk intruders, as well as integrated CCTV, digital recording, and access control systems.
James Hennessy, President of ASI, said, "All of us at ASI are pleased about the acquisition of Access Systems Integration." Mr. Hennessy will continue to serve as President of the Security Systems Integration Division of MSA.
George Harvey, CEO of MSA, states, "We are very excited to have acquired ASI, a quality electronic security integrator. This acquisition truly rounds out our suite of service offerings. It was critically important for us that we acquire an entity with quality management and a strong record of premier service and client satisfaction. Jim Hennessy and his team at ASI provide this."
About Access Systems Integration LLC
Access Systems Integration, LLC (ASI) is the NY region's leading Electronic Security Integrator. ASI provides integrated intrusion detection, IP-based digital video recording, visitor management, and access control systems for clients throughout the tri-state area.
About Michael Stapleton Associates
Michael Stapleton Associates (MSA), provides high-level perimeter security for corporations, landmark structures, government facilities, and major non-governmental institutions. MSA's approach to high-level perimeter security emphasizes protection against explosive devices, chemical and biological agents, and potential high-risk intruders.
About MidCap Advisors, LLC
MidCap Advisors, LLC (MidCap) is a boutique investment banking firm that provides innovative and results oriented financial advisory services to small and medium sized companies. With offices in New York, Chicago and Connecticut, MidCap provides merger & acquisition advisory services, strategic planning, business valuation, capital raise, and transaction support services to clients nationwide.
For further information about this successful transaction, please contact:
John D. Poppe, Jr., Partner
Email
Douglas T. Hendrickson, Partner
Email
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