The owner of a Virginia security business says that he plans to continue to run his organization as before after it merges with a large New York based security concern. He started the company in 2010 after serving for eight years in the U.S. Marine Corps. The merger came about after a party familiar with both companies recommended the Spotsylvania County firm after being pleased with the results it delivered.
The company provides security services to government agencies, bars and nightclubs in the Fredericksburg area. It plans on retaining its local office after the transaction is completed. While the majority of the company's activities will be absorbed by the larger New York operation, it will still offer training services to local establishments for their security staff.
The former marine says that the backing of a larger company will help with his ambitious expansion plans. He hopes to enter more markets in Virginia as well as establishing a presence in Maryland and Washington. New offices are planned in Baltimore, Roanoke, Virginia Beach and Petersburg. The company also hopes to be doing business in West Virginia and North Carolina within five years. Other plans include a daycare center, a gym and a mentoring program for local entrepreneurs.
The prospect of a merger with a large and well-established company can be an exciting one for business owners. The financial muscle and credibility gained can open doors to new customers and facilitate expansion into new markets. However, the allure of such possibilities can sometimes lead to arrangements being entered into that are not as beneficial as they could be. An attorney with experience in business transactions can review the proposed terms with a view towards negotiating a definitive agreement that will protect the client.
Source: Fredericksburg.com, "Local security firm involved in merger", Bill Freehling, April 10, 2014