Great Hill Partners Acquires Central Security Group, Inc.
Boston, MA and Tulsa, OK -- January 31, 2005 -- Great Hill Partners announced today the acquisition of Central Security Group, Inc., a full service provider of security alarm monitoring services. In partnership with Central Security's management team, led by CEO Mark Wilson and CFO Harry Schenk, Great Hill acquired the company through a newly-formed entity, Central Security Group Holdings, Inc.
Founded in 1999, Central Security provides alarm monitoring services to over 60,000 residential and commercial customers. The company operates one of the premier residential dealer networks in 12 south and south central U.S. states. Prior to Central Security, Wilson and Schenk ran Multimedia Security Service, a very successful alarm monitoring company that was sold to Protection One in 1998.
"We are excited to partner with Mark and his team on this transaction," stated Christopher Gaffney, Co-Founder and Managing Partner of Great Hill. "They have demonstrated an outstanding track record with this business model. Central Security is well positioned for continued growth and value creation, and we look forward to helping them meet their strategic goals."
Mark Wilson, CEO of Central Security, added, "Our objective was to find an investor that provided intellectual capital in addition to financial support. With their prior investment experience in the security industry, Great Hill was an ideal fit, and we expect their insights will prove an invaluable resource as we enter our next stage of growth."
As part of this transaction, Christopher Gaffney, Gene Yoon and Charles Papazian of Great Hill Partners will join Central Security's Board of Directors.
About Central Security Group
Founded in 1999 and headquartered in Tulsa, OK, Central Security Group is a full service provider of security alarm monitoring services for primarily residential customers. The company utilizes an authorized dealer network and internal sales offices to sell and install the security systems for its subscribers. The company provides its subscribers with a full spectrum of security alarm services including monitoring services, customer service and technical support. For more information, visit www.csg-guardian.com.
About Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1 billion in capital and focuses on investing in growth companies operating in the education, business services, media, information, IT, and communication sectors. Great Hill Partners is currently investing its $460 million fund, Great Hill Equity Partners II, L.P., and targeting investments of $20 million to $75 million. For more information, please visit www.greathillpartners.com.