MIAMI, FL – (October 1, 2007) Trivest Partners, L.P. (“Trivest”) today announced that its affiliate, Allegiance Security Group, LLC (“Allegiance”), has acquired Southern Research Corporation (“SRC” or the “Company”). SRC, located in Shreveport, Louisiana, is a leading provider of manned security services in the Gulf Coast region of the United States. Trivest acquired SRC from the Company’s founder, Thomas Ostendorff III.
SRC provides manned security and patrol services throughout Louisiana, Arkansas and Texas. The Company’s services are tailored to meet the demands of industrial and manufacturing sites, parking lots, gated communities, hospitals and office buildings. SRC has developed long-standing relationships with several Fortune 500 companies.
Jim Stevens, CEO of Allegiance said, “We are very excited about the addition of Southern Research Corporation to the Allegiance platform. With its long-standing customer relationships, SRC presented a great opportunity for Allegiance to solidify its presence in the Gulf region and augment our unarmed guard and patrol service. Under the supervision of Gulf Region Vice President, Stephen Levine, we are excited about the growth prospects for SRC and look forward to the Company’s continued success.”
Jamie Elias, Trivest Partner and Allegiance’s Chairman stated, “SRC marks the first of many strategic add-on acquisitions for Allegiance. With Trivest’s continued support, Allegiance will seek additional opportunities to expand its geographic footprint and augment its service offering. The SRC transaction is 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 130 acquisitions and recapitalizations, totaling more than $3.0 billion in value. For more information, please visit www.trivest.com.
