World Wide Security, a provider of physical security and life safety systems, acquired Rainbow Home Systems, East Meadow, New York, a physical security company specializing in new construction security installations. The acquisition will enhance the service offerings to residential and commercial customers through expanded product lines.
“World Wide Security has admired Rainbow's ability to service niche markets on Long Island more than 30 years. We are thrilled to join forces with Rainbow to create a strong security company with ideas in order to serve the changing needs of consumers in the tristate area,” said Ken Mara, President and Owner of World Wide Security.
“A partnership between Rainbow and World Wide, through this acquisition, will improve accessibility to services Rainbow did not have before,” said Lenny Minervini, President of Rainbow Home Systems.
Rainbow customers will benefit from service and 24/7 alarm monitoring by World Wide's UL-listed central station. In essence, Rainbow clients will have their needs met more readily through World Wide's corporate infrastructure and will experience the same level of service as World Wide customers.
“I look forward to having Lenny's expertise in new construction and customized installations as part of our team,” Mara said.
The purchase of Rainbow Home Systems increases World Wide Security's share in the security, life safety, alarm monitoring and communications solutions market.
The acquisition was led by Mark Simson, CFO, World Wide Security, “We believe this acquisition is inline with the strategic vision of increasing our regional concentration.”
“With recent debt refinancing, World Wide is in a strong position to expand our market reach and look for additional acquisitions,” Simson said. Rainbow Home Systems was an asset purchase as was World Wide's other acquisitions this year which included other Long Island-based security companies: Digital Surveillance and Security, True Value Alarms and Alarm Security.