Universal Protection Service, a division of Universal Services of America and a portfolio company of Warburg Pincus and Partners Group, has acquired Guardsmark. The companies together create the largest U.S.-owned security company, according to a statement released by both companies. Terms of the transaction were not disclosed.
Based in Memphis, Tenn., and founded by Ira A. Lipman, Guardsmark has more than 125 offices serving more than 400 cities in the United States, Canada, Puerto Rico and the United Kingdom. Headquartered in Santa Ana, Calif., Universal Protection Service provides a mix of traditional security services with systems and technology. Universal operates nationwide in 100-plus locations, including Puerto Rico and U.S. Virgin Islands. The combined company will employ approximately 60,000 security professionals across the United States and Canada.
Steve Jones, CEO of Universal Services of America, says Lipman will join Universal Protection Service as its vice chairman of the board.
