Westport’s Gemspring Capital Management Acquires Security 101
Gemspring Capital Management LLC, a middle-market private equity firm, has acquired a majority interest in Security 101, a provider of commercial security system solutions. The financial terms were not disclosed. Security 101 was founded in 2007.
Headquarters in Southington, Connecticut, Security 101 has locations in 50 cities nationwide. The integrator focuses on design, installation and maintenance of integrated access control, video surveillance, intrusion detection, visitor management and managed service solutions. Steve Crespo, founder and CEO of Security 101 and his management team will continue in their role.
“Steve and his team have built a high-quality organization, evidenced by its reputation in the market for providing stellar service to its customers”, said Alex Shakibnia, managing director at Gemspring. “We believe the commercial security integration market is poised for significant growth as customers increasingly look to strategic thought partners like Security 101 to manage the evolving security challenges and the convergence of physical and cybersecurity.”