Business acquisition opportunity
Commercial security systems and CCTV integrator, the Mountain West
Anonymised as Project Sentinel
Anonymised mandate, codename PROJECT SENTINEL
Commercial security systems and CCTV integrator, the Mountain West
Electronic security integration, video surveillance and access control
Why this business is called Project Sentinel
Project Sentinel is a working codename, chosen at random by DealFlowAgent (DFA) and standard practice in mergers and acquisitions. It exists so the business can be discussed with acquirers, funders and advisers without naming the company or alerting its staff, customers and competitors. The codename is not connected to the company, its brand or its trading name, and searching for it online will return nothing about this business. Everything you need in order to judge fit is on this page in banded form. The company is named to one verified acquirer only, after the owner approves that specific introduction in writing.
A commercial electronic security integrator designing, installing and servicing video surveillance, access control and intrusion systems for school districts, healthcare campuses, municipalities and industrial clients across the Mountain West. Recurring monitoring and service revenue sits alongside project work. Not on the market, and no banker engaged.
Verified acquirers only. A short non-disclosure agreement releases the financial pack, the reserve figure and the contract base analysis. Identity is disclosed at the third gate, with the owner's written approval.
Indicative value range
$17M to $37M
Derived from comparable UK transactions in this sector over the last 24 months. This is a market reference, not the owner's number. The reserve is set separately and disclosed under non-disclosure agreement.
- Sector
- Electronic security integration
- Region
- Mountain West
- Ownership
- Owner-operated
- Outside capital
- None
- Structure sought
- 60% to 100%
- Adviser status
- Unrepresented
$20-26M
Revenue
13-17%
EBITDA margin
35-45%
Recurring revenue
92%+
Customer retention
25+ yrs
Trading history
120-160
Employees
Around half
Public sector share
Cooperative purchasing agreements held
Contract vehicles
Why every figure is a band
Companies on this register are real businesses with staff, customers and suppliers who do not know their owner is listening to the market. Exact figures are a fingerprint: a precise turnover, a filing date and a region will narrow most UK sectors to a single company. These bands are wide enough to protect identity and wide enough that a growing business does not fall out of its own mandate. Every band is verified against filed accounts and management information held by DealFlowAgent (DFA). Precise figures are released under a non-disclosure agreement.
01 Opportunity at a glance
What the business actually does
Institutional customers buy security once and then keep buying service, camera refreshes and access control expansions for a decade. That is where the recurring base comes from. Cooperative purchasing agreements let school districts and municipalities award work without a full bid, which is why the same accounts return.
Between 35% and 45% of revenue is recurring, from monitoring, hosted video, software assurance and service agreements, with installation projects won largely from the same institutional accounts.
- Revenue mix
- 35-45% recurring monitoring, hosted and service
- Public sector share of revenue
- Around half
- Largest customer share of revenue
- Under 12%
- Average customer tenure
- 8+ years
- Technicians
- W-2 employees, manufacturer certified
- Contract vehicles
- Cooperative purchasing agreements held
- Manufacturer positions
- Top-tier integrator status with core lines
- Outstanding litigation
- None disclosed
02 Why now
Sector timing
School safety funding and campus security programs have kept institutional demand firm through the construction cycle, and buyers of integrators pay a materially higher multiple for recurring monitoring and service revenue than for installation. Integrators that have built both are the scarce end of the market.
Nothing distressed. The owners have set a reserve so only acquirers prepared to meet it are put in front of them.
What has changed for this owner
Nothing distressed. The owners have grown recurring revenue deliberately for six years and know exactly what that changes about the value. The decision was to test the market at a number set in advance rather than field approaches ad hoc.
03 Financial profile
Three years, published as bands
Three years apart, published as bands, reconciled to reviewed financial statements, the recurring revenue schedule and the project work-in-progress report.
| Measure | Three years ago | Most recent full year |
|---|---|---|
| Revenue | $14-19M | $20-26M |
| Recurring share of revenue | 28-38% | 35-45% |
| EBITDA margin | 11-15% | 13-17% |
| Recurring monthly revenue | Schedule provided, disclosed under NDA | |
| Work in progress | Schedule provided, underbillings quantified | |
| Owner compensation adjustment | Identified and quantified | |
Where the earnings quality sits
- Recurring revenue is contracted and reconciled to the billing system.
- Project work-in-progress is disclosed so margin fade can be tested.
- Technicians are employees with current manufacturer certifications.
- Growth is organic, from institutional accounts already held.
04 The owner's position
Stated in advance, in writing
| Question | Stated position |
|---|---|
| Is the business for sale? | No |
| Would they transact at the right figure? | Yes, confirmed in writing |
| Reserve figure | Set, disclosed under NDA |
| Preferred structure | 60% to 100% of equity |
| Rollover appetite | Open to a meaningful rollover |
| Post-completion involvement | 12 to 24 months, negotiable |
| Management team | Operations and service leadership expected to remain |
| Represented elsewhere? | No adviser, no other process |
What a reserve figure is
A reserve, as at auction. Before a mandate goes live, the owner completes a full valuation exercise with DealFlowAgent (DFA) and commits, in writing, to the figure at which they will engage seriously. It is private and it is never published. Nothing below it is ever put in front of them, so no acquirer is invited into a conversation that was never going to happen, and the owner is never asked to decline a low offer.
The reserve is disclosed to verified acquirers at non-disclosure agreement stage. It is a threshold for engagement. It is not an asking price and it is not a cap.
We built the recurring side on purpose, one account at a time. A buyer who only values the installation revenue has misread the business.
05 Transaction process
The four gates
01
Acquirer verification.
Funding position, sector experience, prior completions and decision-making authority are confirmed by DealFlowAgent (DFA) before any company information is released. Unfunded parties and brokers acting without a named principal do not proceed.
No company information released
02
Non-disclosure agreement and financial pack.
A short non-disclosure agreement releases the financial pack, the reserve figure, the contract base analysis and the management structure. The company is still not named.
Identity withheld
03
Owner approval and introduction.
We put the acquirer to the owner with a written profile covering their intent, their integration approach and their treatment of teams in previous acquisitions. The owner decides. Only on their written approval is the company named and a meeting arranged.
Owner's written approval required
04
Indicative offer.
Acquirers who meet the reserve are invited to submit an indicative offer. Where more than one qualifies, we run a structured process from that point.
Reserve must be met
06 Which acquirers this suits
A strong fit, and not a fit
A strong fit
- National security integrators seeking Mountain West coverage
- Private equity platforms building a recurring-revenue integration group
- Fire and life safety platforms adding electronic security
- Strategic acquirers with education and municipal relationships
Not a fit
- Parties without committed capital at the indicative range
- Buyers requiring the owners to exit at closing
- Structures weighted heavily to earnout tied to project backlog
- Acquirers intending to subcontract field service
07 About the Off-Market Register
What this register is
How the register works, and where to start
The Off-Market Register carries companies that are not for sale, at prices their owners have already set. Each owner has completed a full valuation exercise with DealFlowAgent (DFA) and committed in writing to the figure at which they will engage.
Every acquirer is verified before they see anything, every document released is watermarked to the recipient, and every access is logged. Before a mandate goes live it is tested three ways for de-anonymisation, and all three tests must fail to identify the company.
If you own a business in this sector, start with the free valuation, read the sector valuation guides or speak to us confidentially. If you acquire businesses, request acquirer access.
08 Questions
Answered in full
If the owner is not selling, is this a waste of my time?
The owner has committed a reserve figure in writing and has agreed in advance to meet acquirers who clear it. You are seeing a business before any process exists, without a competitive auction and without six other parties at the table. What you are not getting is a motivated seller, and you should price accordingly.
Why are the figures banded?
Because precise figures identify the company. Exact revenue, a state, a service line and a headcount will narrow most sectors to one business. Exact figures are released at non-disclosure agreement stage.
Will I be told the reserve before I commit time?
Yes. The reserve is disclosed at non-disclosure agreement stage, before any meeting and before any diligence.
What financial information sits behind the bands?
Reviewed or audited financial statements where they exist, otherwise tax returns and management accounts, together with the contract or customer schedule. The quality of what is available is stated in the pack rather than implied.
Can I approach the company directly if I work out who it is?
Acquirers who circumvent the register are removed permanently and the owner is informed.
Who pays DealFlowAgent (DFA)?
The owner, on completion only. There is no charge to acquirers at any stage, and no fee is payable by anyone if a transaction does not complete.
Own a business like this one?
Every mandate on this register began with a ninety-second valuation and a conversation. No retainer, no exclusivity, and your company is never named until you approve a specific introduction in writing.
Request access to Project Sentinel
Verification takes under a working day. On approval you receive the financial pack, the reserve figure and the contract base analysis under a non-disclosure agreement. The company is named only with the owner's written approval.
DealFlowAgent (DFA)
Electronic security integration, video surveillance and access control
Project Sentinel is a confidential mandate on the DealFlowAgent (DFA) Off-Market Register. All figures are banded and verified against filed accounts and management information. Nothing on this page constitutes an offer or an invitation to treat. DealFlowAgent is a trading name of BTB Holdings Ltd, registered in England and Wales.
