Two B.C.-based security firms have completed a merger in a deal one executive at the parent company says will “super-charge our growth across the country.”
Financial terms of Burnaby-based Paladin Security’s acquisition of Vancouver’s Action BMS were not disclosed but Paladin president Ted Reid called it a “substantial deal.”
“Anyone who knows anything about our industry would realize how big a deal this is just given the revenues of the company,” Reid said, adding Action BMS has annual revenue of about $40 million.
“We’re building a truly national security company headquartered out of Vancouver.”
Action BMS’s 200 employees will be added to Paladin’s workforce of about 8,000.
Both Paladin and its new subsidiary have offices throughout B.C. and the rest of Canada.
“This deal is going to super-charge our growth across the country,” Reid said.
“We’ll have experts in each vertical market out there and it will just help us to grow quicker.”
Action BMS CEO Willy Disler is retiring from the company he founded as part of the deal.
