RapidFire makes its first 'Buy & Build' move, acquiring NM-based Security & Access Systems
RapidFire Safety & Security has made its first acquisition since its March 2022 formation of a “Buy & Build” partnership with Concentric Equity Partners (CEP) targeting the fire safety and security industries, by acquiring Security & Access Systems (SAS), an Albuquerque, NM-based provider of commercial security and fire alarm system design, installation, maintenance, monitoring, test, inspection, and repair services.
“It is exciting to get the first one done, with many more to come,” RapidFire CEO and security integration industry veteran Mike McLeod wrote in a post on LinkedIn.
RapidFire will be acquiring SAS from current owners and industry veterans Chris and Molly Ipiotis, who will remain with the company for an intermediate period to facilitate a transition to the RapidFire platform. All other SAS employees will remain with the company post-close and serve as an integral part of RapidFire's growth strategy in the New Mexico region.
In March, McLeod – whose previous experience included being CEO of Republic Fire Protection, leading upstart Vio Security through a turnaround, and 18 years at Interface Security Systems during which it became the 7th largest company in the security and life safety sector – outlined RapidFire’s “Buy & Build” strategy of acquiring and growing a network of family-owned entrepreneurial businesses providing fire safety and security services to commercial enterprises throughout the southwest and the midwestern United States.
“In partnership with CEP, RapidFire is poised to acquire existing businesses in California, Arizona, Texas, Missouri, and adjacent states led by people-first owners interested in joining a customer-centric organization committed to stable growth through streamlined operations and expanded services.” McLeod said in a statement.
Recognizing the growing divide between family-owned/entrepreneurial operators and the multi-national, powerhouse providers of commercial fire and security services, McLeod, along with co-founder and longtime industry veteran himself Colin Harrold, have positioned RapidFire to fill gaps in the commercial security industry’s fragmentation by consolidating a variety of often disparate design, installation, inspection, monitoring, and maintenance services under a single organizational objective of building relationships for life.
“While most local or regional providers deliver on one or two of the services very well, there is a lack of single-source, full-service fire safety and security choices in the commercial marketplace,” McLeod said.
"As industry leaders and hands-on business operators, it is entrepreneurs like Chris & Molly who inspire and motivate us to drive forward and find many more 'like-minded' sellers, who are ready to transition and enjoy the rewards of their years of hard work, while preserving their legacy," Harrold said in a statement.
To learn more about partnering with RapidFire, interested professionals are encouraged to inquire at www.rapidfiress.com.
Paul Rothman is Editor-in-Chief of Security Business magazine, a printed partner publication of SecurityInfoWatch.com. Access the current issue, archives and subscribe at www.securitybusinessmag.com.
