MIAMI, FL – (January 7, 2008) Trivest Partners (“Trivest”) today announced that its affiliate, Allegiance Security Group, LLC (“Allegiance”), has acquired Alexander National Security (“Alexander” or the “Company”). Alexander is a provider of security guard services focused primarily in the Raleigh-Durham area of North Carolina. Trivest acquired Alexander from the Company’s founders, Larry and Louise Alexander.
Alexander provides security services across several areas of North Carolina through its two offices in Raleigh and Swansboro, NC. The Company is also licensed to provide guard services in South Carolina and Texas. The Company has developed a diversified list of customers which include industrial sites, bioscience facilities, government facilities and gated communities.
Jim Stevens, CEO of Allegiance said, “We are very excited about the addition of Alexander to the Allegiance platform. The Alexander acquisition increases Allegiance’s presence in North Carolina and, specifically, the Research Triangle area. Given the amazing growth in this region, we are very excited about the growth prospects for Alexander and look forward to the Company’s continued success.”
Jamie Elias, Trivest Partner and Allegiance’s Chairman stated, “The acquisition strategy for the Allegiance platform is to acquire well run security companies that augment and expand the geographic footprint of our business. The Alexander acquisition fits nicely within this strategy and provides Allegiance with strong customer relationships in a growing, attractive market. The transaction is also consistent with Trivest’s long-standing investment strategy to acquire well run, founder-owned businesses in the Southeastern United States.”
Under the Allegiance platform, Trivest intends to build one of the largest privately-held security businesses in the United States through organic growth and strategic add-on acquisitions. The security services industry is fragmented with over 15,000 businesses in the United States alone.
Trivest Partners, L.P., a private investment firm, is a leading provider of equity for lower middle-market corporate acquisitions, recapitalizations and growth capital financings. Since its founding in 1981, Trivest has sponsored more than 140 acquisitions and recapitalizations, totaling more than $3.5 billion in value. For more information, please visit www.trivest.com.
