Westport: Gemspring Capital Acquires Security 101
WESTPORT, Conn., Jan. 7, 2022 — Gemspring Capital Management LLC (“Gemspring”), a middle-market private equity firm, is pleased to announce that an affiliate has acquired a majority interest in Security 101 (the “Company”), a provider of commercial security system solutions.
Security 101 delivers a full-service offering of security services and products including the design, installation, and maintenance of integrated access control, video surveillance, intrusion detection, visitor management, and managed service solutions. The Company’s culture of innovation and accountability drives bespoke security and software solutions for the market-specific security challenges faced by its diverse set of national and regional customers. Since its founding in 2007, Security 101 has grown into a national player with over 50 locations across the U.S.
Security 101’s management team, led by Founder and CEO Steve Crespo, will continue to lead the business and be significant shareholders in the Company. Steve commented: “We are excited to partner with Gemspring during this next phase of growth and look forward to collaboratively pursuing the tremendous market opportunity ahead of us. This partnership puts Security 101 in a position to rapidly expand our footprint while continuing to provide national and local customers the security industry’s finest customer service through our proven approach.”
“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. We look forward to working with Steve and the entire Security 101 team to expand Security 101’s client base, service and technology offerings, and geographic footprint.”