Allied Security, Inc. (SpectaGuard)

Status: Past
Initial Investment: December 1997
Location: King of Prussia, PA
Investment Type: Build-Up
Investment Industry: Business Services

December 1997 the managers of Harvey & Company, a West Coast private equity fund, and CEO Al Berger, the former President of Pinkerton’s $600 million security guard business, partnered to build a high-end security guard business through acquisition and organic growth. In addition to initiating the acquisition of SpectaGuard, the founders of Harvey & Company participated as co-investors.

During 2000 SpectaGuard acquired Allied to form Allied Securty, Inc, and in January 2003, Allied Security was acquired by MacAndrews & Forbes Holdings for approximately $268 million. Allied Security consummated three successively larger acquisitions including Professional Security Bureau and grew to over $500 million in revenue, making it the largest privately held security guard company in the United States.

 

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