Security Resources, a Cherry Hill-based provider of security guard and related solutions, has been acquired by Protos Security, a tech-enabled managed security provider, equity firm Southfield Capital announced Tuesday.
Joseph Malone and Bob Bond, co-founders of Security Resources, will remain in their roles once the deal has closed.
“Southfield’s vision to create an industry leading security services firm committed to delivering extraordinary services to our clients matched perfectly with our philosophy,” Malone and Bond said. “We are very excited to be merging with Protos and look forward to sharing best practices while enhancing our service offering for all of our clients.”
Monroe Capital LLC provided debt financing. Pepper Hamilton LLC provided legal counsel to Southfield Capital.
“Over the last 20+ years, SRI has blossomed into one of the leading names in the security services space and they have built a highly respected business with a great client roster,” said Andy Cook, Partner at Southfield Capital. “We believe that combining SRI with Protos’ industry leading technology will enable us to deepen client relationships and provide a broader array of comprehensive security and loss prevention solutions.”
Southfield acquired Protos in February of this year. Financial terms of the deal were not disclosed.