HSM's Chief Executive Officer, James M. Covert, stated that this acquisition was a great opportunity for the continued growth of HSM, as part of a major S&P 500 company that is a worldwide supplier of consumer products, industrial tools and security solutions for professional, commercial, industrial and consumer use. He went on to state that the combining of the Stanley® and HSM® brands would position HSM to continue to offer additional services to its customers, as the electronic security industry moves towards convergent security solutions.
Timothy J. Whall, President and COO of HSM will join Stanley and continue to head up the HSM team. Mr. Whall commented that the opportunity to join Stanley, with its additional resources, would allow HSM to continue its focus on delivering the high quality of customer service that made HSM, the SDM Dealer of the Year. HSM was the first national security company to receive that industry award in its 26-year history. In addition to allowing HSM to maintain that high level of customer service, joining Stanley will facilitate expansion of the basket of services HSM is presently delivering.
Lessing Gold, of the firm of Mitchell Silberberg & Knupp, LLP, special counsel to HSM in this transaction, stated that this was a "win win" situation for both HSM and Stanley. The joining of a quality service provider, such as HSM, with the larger financial resources of Stanley, was also beneficial for the security industry and its customers, by insuring the continuation of a quality service provider in the electronic security market.
HSM is the fourth largest electronic security company and second largest commercial security monitoring company in the United States with 50 offices serving over 100 of the country's largest metropolitan markets generating approximately $200 million of annual revenues. HSM designs, installs, monitors and services security systems for both commercial and residential customers. HSM represents a national network of resources, state-of-the-art technology, and a culture dedicated to excellence; where its employees have the training, the equipment, and the processes they need to deliver the finest solutions for the needs of its customers. HSM provides the best of both worlds, a local company with national resources, and one of the most trusted names in security servicing over 175,000 customers.