NAPCO Announces Acquisition Of Marks USA

NAPCO Security Systems Inc. recently announced the acquisition of Marks USA. The purchase price for the business and substantially all of the assets was $25 million and the assumption of current liabilities. The company funded the acquisition with a term loan from its principal lenders.

Marks USA, a long established privately-held company, is located in Amityville, N.Y. and is a independent manufacturer of industrial, commercial and institutional locks. Yearly revenue for its fiscal year ended July 31, approximates $25 million with pre-acquisition EBITDA of approximately $4 million. Management anticipates that the acquisition will immediately be accretive to NAPCO’s per share results.

“This acquisition underscores NAPCO’s commitment to its customers and shareholders by offering enhanced growth opportunities through organic means as well as strategic acquisitions,” said Richard Soloway, NAPCO’s president and CEO. “We are proud of our previous acquisitions of Alarm Lock and Continental, which have been seamlessly and successfully integrated into our Company. We believe that NAPCO and its employees, customers and shareholders will benefit greatly from this Marks USA acquisition. Marks USA complements our broad range of security systems and will help us advance our leadership position in providing more cutting-edge security technology and solutions to our customers.”

“We are delighted to be part of NAPCO Security Systems and we believe the combination will enhance the opportunity for long-term growth,” said George Marks, president of Marks USA. “Being part of NAPCO provides Marks USA with increased distribution, market penetration, purchasing leverage as well as strengthening the research and development capabilities of both companies. NAPCO’s proven commitment to research and development, as well as its global distribution capabilities, fits perfectly with Marks’ strategic positioning of our new lines of more than 300 custom designed architectural and industrial locksets for major buildings and hospitals. The new team of NAPCO and Marks will strengthen our ability to support our growing network of customers with expanded sales, manufacturing and customer service departments. I look forward to our collaboration with NAPCO which will bring us to new heights.”

Featured

  • Allegion, Comfort Technologies Implement Mobile Credentials at the Artisan Apartment Homes in Florida

    Artisan Apartment Homes, a luxury apartment complex in Dunedin, Florida, recently transitioned from mechanical keys to electronic locks and centralized system software with support from Allegion US, a leading provider of security solutions, technology and services, and Florida-based Comfort Technologies, which specializes in deploying multifamily access control, IoT devices and software management solutions. Read Now

  • Mall of America Deploys AI-Powered Analytics to Enhance Parking Intelligence

    Mall of America®, the largest shopping and entertainment complex in North America, announced an expansion of its ongoing partnership with Axis Communications to deploy cutting-edge car-counting video analytics across more than a dozen locations. With this expansion, Mall of America (MOA) has boosted operational efficiency, improved safety and security, and enabled more informed decision-making around employee scheduling and streamlining transportation for large events. Read Now

  • Security Industry Association Launches New “askSIA” AI Tool

    The Security Industry Association (SIA) has unveiled a brand-new SIA member benefit – askSIA, a conversational AI agent designed to help users get the most out of their SIA membership, easily access SIA resources and find the latest information on SIA’s training and courses, reports and publications, events, certification offerings and more. SIA members can easily find askSIA by visiting the SIA homepage or looking for the askSIA icon in the top left of webpages. Read Now

    • Industry Events
  • Industry Embraces Mobile Access, Biometrics and AI

    A combination of evolving workplace dynamics, technology innovation and new user expectations is changing how people enter and interact with physical spaces. Access control is at the heart of these changes. Combined with biometrics and AI, mobile access control has become increasingly crucial for deploying entry solutions that are seamless, secure and adaptive to user needs. Read Now

  • Sustainable Video Solution Delivered for Landmark City of London Office Development

    An advanced, end-to-end video solution from IDIS, with a focus on reducing waste and costs, has helped a major office development in the City of London align its security with sustainability objectives. Read Now

New Products

  • A8V MIND

    A8V MIND

    Hexagon’s Geosystems presents a portable version of its Accur8vision detection system. A rugged all-in-one solution, the A8V MIND (Mobile Intrusion Detection) is designed to provide flexible protection of critical outdoor infrastructure and objects. Hexagon’s Accur8vision is a volumetric detection system that employs LiDAR technology to safeguard entire areas. Whenever it detects movement in a specified zone, it automatically differentiates a threat from a nonthreat, and immediately notifies security staff if necessary. Person detection is carried out within a radius of 80 meters from this device. Connected remotely via a portable computer device, it enables remote surveillance and does not depend on security staff patrolling the area.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

  • Automatic Systems V07

    Automatic Systems V07

    Automatic Systems, an industry-leading manufacturer of pedestrian and vehicle secure entrance control access systems, is pleased to announce the release of its groundbreaking V07 software. The V07 software update is designed specifically to address cybersecurity concerns and will ensure the integrity and confidentiality of Automatic Systems applications. With the new V07 software, updates will be delivered by means of an encrypted file.