For Immediate Release                                                                                                  

 

EPS Makes Largest Acquisition in Company History

 

Grand Rapids, Michigan, March 3, 2003  – Engineered Protection Systems, Inc. announced today that it has completed the acquisition of a Kalamazoo security provider, the largest single acquisition in its 48-year history.

 

The Grand Rapids-based residential and commercial security provider said that its acquisition of Kalamazoo Security Systems, Inc., will expand the Company’s presence in Southwest Michigan and increase sales by 20 percent during 2003.  The acquisition, for which terms were not disclosed, will also increase employment at EPS by approximately 15 percent.

 

“We are pleased to be able to add a company the caliber of Kalamazoo Security to the EPS family,” said Allan Carlson, CEO and owner of EPS.  “This acquisition will strengthen our position as one of the top 30 security providers in the United States, while expanding our geographical presence in a key Michigan market.

 

“Kalamazoo Security’s sound reputation and dedication to customer service dovetails well with our own philosophy.  We look forward to growing our presence in Southwest Michigan through this acquisition.”

 

Kalamazoo Security is EPS’s 14^th acquisition to date, and the largest purchase of another security provider in Company history.  EPS remains in growth mode, increasing accounts by 82 percent and employees by 50 percent since January 2000.  The Kalamazoo acquisition will add 3,000 new business and residential security accounts to EPS’s current customer base of 10,000 subscribers.

 

The Kalamazoo Security headquarters at 219 N. Westnedge Avenue will serve as an EPS branch office. 

 

“While it’s always a difficult choice to sell a company you have grown and nurtured, we feel good about the decision we have made,” said Donald Zylstra, CEO and owner of Kalamazoo Security.  “EPS is also a family-owned and operated business that shares our ideas of stellar customer service and respect for its employees, and we are confident that our customers and employees will be in extremely good hands.”

 

About EPS:

Engineered Protection Systems, Inc. installs, monitors and maintains a wide variety of security systems for more than 13,000 homes, businesses and institutions throughout Michigan, as well as in Ohio, Indiana, Illinois and Kentucky.  Founded in 1955, EPS (www.epssecurity.com) is one of the top 30 security providers in the United States and the largest privately held security provider in West Michigan.  It operates branch offices in Traverse City, Holland, Harbor Springs, Houghton Lake, Gaylord, Petoskey and Kalamazoo.

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