Gemspring Capital Management LLC, a Westport-headquartered middle-market private equity firm, has acquired a majority interest in Security 101, a provider of commercial security system solutions. The financial terms of the transaction were not disclosed.
Founded in 2007 and headquartered in Southington, Connecticut, Security 101 has 50 locations across the country. It is responsible for the design, installation, and maintenance of integrated access control, video surveillance, intrusion detection, visitor management and managed service solutions.
Security 101’s management team, led by founder and CEO Steve Crespo, will continue to lead the business.
“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.”
